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Report: Over 3 Million Email Addresses of CoinMarketCap Users Leaked

Leading cryptocurrency price tracking platform CoinMarketCap (CMC) recently had email addresses of over 3 million users leaked.

According to a fresh report by a website that tracks several cybersecurity threats, including hacks and compromised online accounts, about 3,117,548 email addresses of CMC users were leaked on October 12.

However, the leak remained unknown until the email addresses were discovered on several hacking forums where they were being traded.

Coinmarketcap Confirms Data Leak

The report further revealed that the passwords to these leaked email addresses were not compromised in the hack.

Speaking on the matter, a CMC representative said:

“CoinMarketCap has become aware that batches of data have shown up online purporting to be a list of user accounts. While the data lists we have seen are only email addresses (no passwords), we have found a correlation with our subscriber base.”

The knowledge that no passwords were compromised by the leak brings a measure of relief to the affected users. Additionally, the absence of passwords could indicate that the attack on CoinMarketCap would likely not have been for a major heist.

However, the data leak has compromised user privacy and could give room for several targeted attacks on customers, including phishing.

Still a Mystery

The CoinMarketCap representative further revealed that the data breach was not from any of the site’s servers, and they are yet to identify the exact cause of the hack.

“We have not found any evidence of a data leak from our own servers — we are actively investigating this issue and will update our subscribers as soon as we have any new information.”

Not the First

Meanwhile, data leaks are not a new phenomenon in the cryptocurrency industry. Over the past few years, several crypto companies, including BitMEX, Ledger, and many more, have experienced similar user data leaks, jeopardizing millions of customers.

In late 2020, hardware wallet provider Ledger discovered that the personal data of several of its users, including email addresses, phone numbers, postal addresses, and more, had been leaked on various public forums.

Founder of Coin Signals Funds Pleads Guilty in Crypto Scam — Faces up to 10 Years in Prison

The founder and manager of several cryptocurrency funds has pleaded guilty to luring investors to his crypto investment scam. His funds consistently lost money and his scam left investors with a $5 million loss, according to the U.S. Department of Justice (DOJ). Investors Scammed Into Investing in Coin Signals’ Funds The U.S. Department of Justice::Listen

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The founder and manager of several cryptocurrency funds has pleaded guilty to luring investors to his crypto investment scam. His funds consistently lost money and his scam left investors with a $5 million loss, according to the U.S. Department of Justice (DOJ).

Investors Scammed Into Investing in Coin Signals’ Funds

The U.S. Department of Justice (DOJ) announced Tuesday that Jeremy Spence (aka Coin Signals) has pleaded guilty in a fraudulent cryptocurrency investment scheme.

Spence “solicited over $5 million from more than 170 individual investors for various cryptocurrency funds that he operated, after making false representations in connection with these funds,” the DOJ explained. Spence was charged in June.

U.S. Attorney Damian Williams detailed:

Jeremy Spence, a/k/a, ‘Coin Signals,’ admitted today to luring investors to his cryptocurrency investment scam by touting fictitious historical returns of up to 148%.

“In reality, Spence’s investments consistently lost money, and his scam left investors with a $5 million loss,” the Justice Department continued.

Spence solicited investors for several cryptocurrency investment funds that he created and managed from November 2017 through April 2019. His largest and most active funds were Coin Signals Bitmex Fund (CS Mex Fund), Coin Signals Alternative Fund (CS Alt Fund), and Coin Signals Long Term Fund.

The Department of Justice noted:

Investors who wanted to participate in a fund would transfer cryptocurrency, such as bitcoin and ethereum, to Spence in order for Spence to invest it.

“To hide his trading losses, Spence used new investor funds to pay back other investors in a Ponzi-like fashion,” the DOJ described, adding that he “distributed cryptocurrency worth approximately $2 million to investors substantially from funds previously deposited by other investors.” The Justice Department elaborated:

Spence, 25, pled guilty to commodities fraud, which carries a maximum sentence of ten years in prison.

What do you think about this case? Let us know in the comments section below.

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Report: Over 3 Million Email Addresses of CoinMarketCap Users Leaked

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