BlockFi, Swan Bitcoin data breached amid Hubspot hack

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TL; DR Breakdown

  • Hubspot hack led to data breaches at BlockFi and Swan Bitcoin
  • BlockFi suffered a network breach back in 2020

Two cryptocurrency service providers, BlockFi and Swan Bitcoin, have disclosed that they were somewhat impacted in the recent data breach at Hubspot, a tool that many organizations use to manage marketing efforts and onboard new users. However, they assured that their treasuries are still intact and operations have not been disrupted.

Hubspot is customer relationship management (CRM) software that provides a single platform for sales, marketing, and customer service teams to work together. The software is used by over 47,000 customers in more than 100 countries.

Hubspot hack affects crypto service providers

On March 18, New Jersey-based crypto financial institution BlockFi announced a data breach incident after discovering that one of its third-party service providers, Hubspot, had been hacked. The attackers gained access to BlockFi’s customer information that was stored with Hubspot for marketing purposes.

While the users’ information was leaked to the hacker both companies say that password and other internal information were not affected. The company is also working with law enforcement to investigate the incident.

BlockFi is a digital asset lending and borrowing platform that allows customers to borrow against their bitcoin and ether holdings. The company announced on Twitter that it had been affected by the Hubspot data breach. “Hubspot has confirmed that an unauthorized third party obtained access to certain BlockFi client data on their platform.”

The CRM software company explained that the incident was caused by a malicious individual who obtained access to an employee account and then targeted industry stakeholders. The company added that 30 individuals were affected but they have not yet published a list

Customers have reported that they’ve been getting an increase in phishing emails from businesses over the past weekend, attempting to entice them into giving up their password on a phony site.

BlockFi 2020 breach

This is not the first time that BlockFi has suffered a breach, in 2020 BlockFi suffered a breach after an employee’s SIM card was compromised and ported over to an unauthorized user. and after that incident, BlockFi hired a chief security officer.

In February, a prominent crypto venture capital firm Pantera Capital had disclosed that its account with the CRM company was hacked. At the moment, neither a chronology of events nor a timeline of events is known since Hubspot has not revealed when their system was breached.

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