Unicoin Details

Unicoin

• employees •

United States

Industry

Security Incidents

Unicoin is a cryptocurrency that was created in February 2022, designed to address the extreme volatility typically associated with traditional cryptocurrencies. Unlike other digital currencies that are often not backed by tangible assets, Unicoin distinguishes itself by being supported through equity stakes in emerging growth companies and real estate assets. This backing aims to provide more stability and security for investors, mitigating the extreme price fluctuations seen in other digital coins.

The development of Unicoin comes at a time when the cryptocurrency market is experiencing sig...
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Security Incidents

Unicoin Breach of Aug 2024

Severity Score

Significant

Type

Unknown

Summary

On August 9, an unknown attacker compromised Unicoin's Google Workspace (formerly G-Suite), leading to a complete lockout for all staff members. The intrusion, which occurred just before the weekend, allowed the attacker to change passwords for every user account, effectively denying access to emails, documents, and other Google services for those with an @unicoin.com email address.

Unicoin regained access to its Workspace on August 13 and has been investigating the breadth of the compromise. Initial findings revealed unauthorized access to employee and contractor personal data, email message...
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Severity

The cyber incident at Unicoin on August 9 resulted in a complete lockout from their Google Workspace, with attackers changing passwords for every user account. This created significant disruption as access to critical services was denied. Upon regaining access on August 13, the investigation revealed unauthorized access to sensitive employee and contractor data, email messages, and a case of identity forgery.

Despite no financial losses reported, the breach's extent—compromising personal data and internal communications—heightens concern. The sophistication and impact of this attack, particul...
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Impact

The recent cyber incident at Unicoin on August 9 involved a compromise of their Google Workspace, resulting in a complete lockout for all staff members. This was a severe disruption as attackers changed passwords for every user account, denying access to critical emails, documents, and other associated Google services for employees using an @unicoin.com email address.

Following the regaining of access on August 13, Unicoin's investigation uncovered unauthorized access to employee and contractor personal data, specific email messages of managers, and a case of identity forgery involving a cont...
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