BlockFi Warns against Phishing Attacks after Vendor Data Breach

Client details of BlockFi that were stored on Hubspot were breached.

It assured that its internal systems are safe.

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The New Jersey-based company detailed that an unauthorized third party gained access to Hubspot‘s internal systems and compromised a portion of their client data, including certain BlockFi client data. The compromised data include names, emails, phone numbers, company emails and details of the customers’ BlockFi relationship manager.

BlockFi has clarified that its internal systems are safe, and the client funds are also not at risk. But the company is concerned about phishing and other types of hacking attempts using the leaked data that could put its clients at risk. It is particularly worried about SIM swap attacks as fraudsters can impersonate some customers to the relationship manager.

“While this incident occurred at Hubspot and affected a large group of organizations, we at BlockFi take the security of vendor systems incredibly seriously, and we are notifying you directly,” BlockFis Chief Security Officer, Adam Healy said in a public announcement.

“We recommend heightened vigilance as we anticipate an increase in phishing emails and scams.”

Heightened Security

BlockFi further said that it has implemented additional security measures to protect its platform and client assets after the data breach. “We are remaining extra vigilant and encourage all of our clients and the crypto community at large to do the same,” Healy said.

BlockFi is one of the major crypto lending platforms that is offering interest-bearing cryptocurrency accounts to its retail customers. However, the company came under regulatory scrutiny in the US for its operations and settled with federal and state regulators for $100 million. It has also agreed to stop opening new American accounts, but the existing client base would not be impacted.