Gemini: phishing fraud against European users is caused by data leakage from a third party

According to reports, Gemini said in an email sent to customers that the third party data leakage led to phishing activities targeting users in the UK and Europe. It is reported that the fraudster obtained the names, e-mail addresses and/or telephone numbers of some Gemini customers from two third-party suppliers used by Gemini. No account information or system is affected, and all customer accounts are safe. Gemini has informed the Office of the British Information Commissioner and the Irish Data Protection Commission.

Interpretation of this information:

The message above is discussing a security breach that occurred at Gemini, a cryptocurrency exchange platform. According to reports, a third party data leak lead to phishing activities targeting users in the UK and Europe. The message goes on to explain that the fraudster obtained the names, e-mail addresses and/or telephone numbers of some Gemini customers from two third-party suppliers that Gemini uses.

At first glance, this message seems alarming as it discusses a data breach, however, it is important to note that this breach did not affect any customer accounts or systems. The information that was leaked was restricted to email addresses, phone numbers, and names. While this information is enough to facilitate phishing attempts, it is not sufficient to gain access to accounts.

The message highlights Gemini’s commitment to the safety of customer accounts by informing both the Office of the British Information Commissioner and the Irish Data Protection Commission. This is a positive action as it demonstrates Gemini’s transparency and willingness to work with regulatory bodies to ensure that their customers are safe.

The fact that the breach was due to third party suppliers is a reminder of the importance of carefully selecting service providers and properly vetting them for security risks. In today’s digital age, companies rely on third party vendors for a range of services, and as such, it is important to ensure that these vendors are using industry-standard security measures to protect their client’s data.

Finally, It is also important to note that the phishing attempts were targeted at Gemini customers in the UK and Europe. This could indicate that the breach was orchestrated by an individual or group with access to this geographical information. As such, customers should remain vigilant for any suspicious emails or messages and continue to practice good cyber hygiene practices.

In conclusion, while the breach at Gemini is concerning, it is important to note that it did not affect any customer accounts or systems. The company has taken appropriate action by informing regulatory bodies and customers of the data leak. Additionally, the message serves as a reminder of the importance of carefully selecting third party vendors and practicing good cyber hygiene practices.