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Fractal ID Reports Data Breach Impacting 0.5% of User Base

Fractal ID's partners like Gnosis Pay, Acala, Polygon ID, Lukso, and other Web3 apps may have been affected by a data breach.

Written By:
Ronak Kumar

Reviewed By:
Dhara Chavda

Last updated: July 18, 2024 1:00 PM
Published July 18, 2024 10:24 AM
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Last updated: July 18, 2024 1:00 PM
Published July 18, 2024 10:24 AM
Fractal ID Reports Data Breach Impacting 0.5% of User Base

Fractal ID, a blockchain identity platform, reported a data breach on July 14 as highlighted in the website notice posted on July 17. The potentially compromised information includes details contained in Fractal ID user profiles.

This breach involved a third party gaining access to an operator’s account and using an API script to access the personal data of some of the users, occurring between 05:14 UTC and 07:29 UTC, impacting approximately 0.5% of Fractal ID’s total user base.

Source: Fractal ID

Fractal ID’s partners such as Gnosis Pay, Acala, Polygon ID, Lukso, and other Web3 apps may have been affected. Although Fractal did not indicate which of its partners were impacted, users of Gnosis Pay stated that they received notifications of the attack and that they should be cautious of any messages from unknown sources.

According to the official announcement, personal data including names, email addresses, wallet addresses, phone numbers, physical addresses, and images of uploaded documents may have been exposed, but the breach was contained within Fractal’s network without impact on clients’ systems or products.

As a result, the users impacted by the breach should avoid providing any other personal information to any unknown sources that may be fake. Fractal ID and its partners are still looking into the incident and have since stepped up security.

This breach occurred at a time when the cryptocurrency and blockchain industries are increasingly facing concerns over data privacy, especially given that KYC (Know Your Customer) standards involve the collection of users’ personal data. 

Such incidents prove that the protection of personal data remains a problem that companies struggle to overcome.

Also Read: AT&T Pays $400,000 BTC Ransom to Hackers in 2022 Data Breach

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

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Ronak Kumar- Crypto Journalist at The Crypto Times
By Ronak Kumar
Follow:
Ronak Kumar is a Crypto Journalist with over 3 years of experience covering blockchain, AI, finance, and emerging digital trends. With a background in Commerce (B.Com) and a Postgraduate Diploma in Management (PGDM), he combines business insight with a clear understanding of the evolving crypto space. His reporting has been featured in major publications, with his work cited by NDTV, Hindustan Times, and Outlook India on topics like Trump Memecoin, Bhutan’s crypto mining, and Barron Trump’s digital presence.
Dhara Chavda- Crypto Research Analyst at The Crypto Times
By Dhara Chavda
Follow:
Dhara Chavda is a Content Strategist and Research Analyst with 5 years of experience in the crypto industry. She holds a Bachelor’s degree in Computer Engineering and brings a strong technical perspective to her work. Dhara specializes in DeFi, price analysis, and the core mechanics of cryptocurrencies. She also works on crypto news, including research, analysis, and assigning stories, ensuring accurate and timely coverage of key developments in the space.

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