Gemini Reveals 3rd-Party Vendors Incident Stirred Phishing Scams

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An unfortunate event that happened in December last year has suddenly been reanalyzed by Gemini Exchange. 

The Winklevoss brothers’ digital asset company revealed incidents connected to third parties which contributed to the phishing scam campaign launched on Gemini users, especially those in the United Kingdom and Europe. So far, the firm has identified two third-party vendors’ platforms where hackers may have gotten users’ information.

“We are aware of two incidents during which bad actors obtained the names, email addresses, and/or truncated (partial) phone numbers of certain Gemini customers from two third-party vendors that we use,” as per a client email sent by Gemini Exchange. According to the firm, only one of these vendor-linked scams was initially discovered until last fall when another one happened.

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Hackers Place Ads to Sell Gemini Users’ Data

Sometime around mid-December, BleepingComputers notified the public of certain posts on hackers’ forums claiming to have Gemini users’ data. Interestingly, these hackers threatened to put up the data which is majorly customers’ personal information, for sale. The information at the disposal of the scammers included the email addresses and phone numbers of almost six million Gemini Exchange users.

This happened only a few days after Gemini announced that its users have been the target of phishing attacks. 

For the second attempt, employees of a third-party vendor were tricked into providing login details to their platform. Once the hackers were armed with these details, they plundered the platform and made away with the names, email addresses, and partial phone numbers of some Gemini customers.

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Gemini assured customers that all funds are secured and no account has been impacted by the hackers. There are suspicions that these attacks may not be solely targeted at Gemini Exchange but the entire crypto industry. Currently, the UK Information Commissioner’s Office and the Irish Data Protection Commissioner are aware of the attacks. 

Amidst these headwinds, Gemini has reduced its global headcount by laying off 10% of its employees. It is noteworthy that in less than a year, this is the third wave of layoffs. Cameron Winklevoss cited macroeconomic pressure and “unprecedented fraud” in the general crypto industry as the main reason behind the retrenchment exercise.

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