Mega breach of 16B passwords raises crypto security worries

INSUBCONTINENT EXCLUSIVE:
A massive trove of more than 16 billion login credentials from leading online service providers, including Apple, Google and Facebook, was
In that attack, attackers got full names, addresses, phone numbers and emails, as well as government ID images, balance snapshots,
transaction history and more
Most of the databases contained an average of 550 million entries, while the smallest held over 16 million.Cybernews warned that this could
by unsecured Elasticsearch or object-storage instances.Top 20 data sets
Source: CyberNewsRelated: Coinbase data leak could put users in physical danger: TechCrunch founderMost major services hitCybernews said the
organizations lacking multifactor authentication.According to the report, the original owner of the data is unclear
leaked in 2022 now fully public: SlowMistConsequences for the crypto industryThe cryptocurrency industry may face serious fallout as a
result of the leak
Security analysts expect a rise in targeted account takeover attempts using leaked credentials, particularly against custodial wallets or
platforms tied to email access
An increase in attempted social engineering attacks is also expected, according to Cybernews.Some wallets also use password-based
seed-phrase backups stored in cloud services, which could allow attackers to attempt to obtain the private keys.Depending on the extent and
success of those attacks, exchanges may decide to request that users change their passwords or take more drastic measures to prevent asset
loss
The breach also highlights persistent issues such as password reuse and weak authentication practices
Crypto users should immediately update passwords, enable 2FA, and avoid storing recovery phrases in unsecured digital environments.Magazine:
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