April 19, 2024
Security Breach at Nansen's Third-Party Vendor Impacts User Data
Latest Cryptocurrency News

Security Breach at Nansen’s Third-Party Vendor Impacts User Data

Prominent crypto and blockchain analytics firm Nansen recently disclosed on the social media platform X (formerly Twitter) that one of its third-party vendors experienced a security breach impacting approximately 6.8% of its users.

According to Nansen, this breach granted unauthorized access to admin rights for an account responsible for “provisioning customer access” to its platform.

While Nansen did not explicitly name the affected company, it described the vendor as “an established company that is used by many Fortune 500 companies,” as well as other firms in the industry, for data management purposes.

The compromised users reportedly had their email addresses exposed, and some also had their password hashes and blockchain addresses compromised.

Nansen promptly identified and notified the affected users, urging them to change their passwords. Importantly, Nansen reassured its users that their wallet funds remained unaffected by the security incident. Nansen is highly regarded within the crypto space, offering on-chain analytics for many of the industry’s key players.

Nansen CEO Alex Svanevik expressed his belief that, in the future, a protocol will emerge that strikes a balance between blockchain transparency and user privacy while also complying with regulatory requirements.

Earlier this year, Nansen, like many others in the industry, faced challenges during the ongoing bear market and had to make the difficult decision to lay off around 30% of its workforce.

Image by Freepik

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