Unicoin, a cryptocurrency company, has recently fallen victim to a large-scale cyber attack, resulting in the loss of corporate access for four days. The attack took place on August 9, when an unidentified hacker gained entry into the company’s Google G Suite accounts and changed the passwords of all users, effectively blocking access to the company’s systems.
For nearly four days, employees at Unicoin with email addresses ending in @unicoin.com were unable to utilize work services such as Google Mail and Google Drive. It was only on August 13 that the company was able to regain access and remove the attacker from their network.
Unicoin representatives have indicated that they are currently assessing the extent of the damage and potential data breaches. While the perpetrator behind the attack remains unknown, the company has discovered breaches in personal data of employees and contractors within the accounting department. Furthermore, traces of hacking were found in mail accounts and messages of certain managers. Unicoin has yet to determine the exact financial ramifications of the breach.
As one of the few cryptocurrency companies that provides reports to the US Securities and Exchange Commission (SEC), Unicoin’s cryptocurrency is backed by a portfolio of assets, including real estate and shares of other companies. The company has sold branded tokens amounting to over $500 million thus far.
This incident underscores the critical need for enhanced cybersecurity measures for all companies, especially those dealing with digital assets. It serves as a reminder that even major players in the market are susceptible to cyber attacks that can significantly disrupt business operations. Maintaining rigorous security standards and continuous system monitoring are essential in upholding customer trust and safeguarding corporate data.