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Cryptocurrency hosting provider Copper was alerted to a security issue over the Christmas period in December involving the company’s GitHub A repository that contains a blueprint of how the company protects customer assets.
Copper, one of the leading crypto hosting providers, uses a process called Multi-Party Computation (MPC) Smart key sharding technology protects billions of dollars in digital assets and works with big names like State Street.
“No customers were harmed,” Copper said in a statement to CoinDesk.
Copper stated that one of its suppliers “detected some worrisome behavior” and “has triggered a machine-generated alert”.
“Subsequent investigations determined that Copper suffered no breach or business interruption, and no customer information was compromised. leaked,” Copper said in a statement. “The incident was not of the nature required by applicable laws or regulations to be disclosed, and the business continued smoothly without further concern from the company.”
Popular professional messaging platform Slack also suffered a security incident during the year-end holidays that affected some of its private GitHub repositories.
Despite Copper’s claim that no violations occurred The situation with its code, but two people familiar with the matter told CoinDesk that the company’s code base has been compromised and copied.
“There was a serious breach late last year in which a developer’s account was to intrusion. That means the entire code base is vulnerable and downloaded,” one of the people said. “In effect, it exposed the complexity and workings of the entire platform to a group of malicious actors.”
Former UK Chancellor of the Exchequer Philip Hammond, who was recently appointed chairman of Copper, said in an interview that the company is close to closing a funding round.
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Learn more about Consensus 2023, CoinDesk’s longest running and most Influential event bringing together all aspects of cryptocurrency, blockchain and Web3. Go to consensus.coindesk.com to register and purchase your pass today. Ian Allison is an award-winning senior reporter at CoinDesk. He holds ETH. .Ian Allison is an award-winning senior reporter at CoinDesk. He holds ETH.
Will Canny is a financial reporter for CoinDesk.
Will Canny is a financial reporter for CoinDesk.
