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Cryptocurrency custody provider Copper was alerted over Christmas in December of a security issue related to its GitHub repository containing blueprints for how the company should protect its customers’ assets.
Copper is one of the leading cryptocurrency custody providers, using a sophisticated key sharding technology called Multi-Party Computation (MPC) to protect billions of dollars of digital assets, and has helped high-profile companies such as State Street are collaborating with
“The client was not compromised,” Copper said in a statement to CoinDesk.
Copper said one of its vendors “detected behavior of concern in their development environment” and “triggered a machine-generated alert.”
“Following an investigation, it was determined that Copper was not compromised or disrupted, and no customer information was compromised,” Copper said in a statement. “The incident was not of a nature that would require disclosure under applicable laws or regulations, operations continued to run smoothly, and there were no further concerns for the company.”
Slack, a popular professional messaging platform, also suffered a security incident over the New Year holidays that affected some of its private code repositories on GitHub.
Copper claims its code was not compromised, but two people with knowledge of the situation told CoinDesk that its codebase was compromised and copied.
“We had a serious breach late last year where one of our developer accounts was compromised, which means the entire code base was compromised and downloaded,” said one of the parties. I’m here. “In practice, it exposes the complexity and mechanics of the entire platform to a group of malicious actors.”
Former UK Chancellor Philip Hammond, who was recently appointed chairman of Copper, said in an interview that the company is nearing the final stages of a funding round.
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