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With a leak of at least 23,000 emails, the recent BitMEX email leak was much heavier than expected. An inadvertent message that included lists of emails made the rounds last week, creating a security break for the largest crypto derivatives exchange.


23,000+ Emails Leaked by BitMEX

Details of the BitMEX email leak were shared a few hours ago by well-known industry researcher Larry Cermak in one of his tweets. Using BitMEX is not entirely illegal, though it has been banned for US citizens.

BitMEX’s, perpetual BTC/USDT swap, is the most active contract linked to Bitcoin (BTC) trades. The exchange, however, operates in a legal gray area, and the leaked emails may point to breaks in excluding some regions. Trading on BitMex has also been seen as highly risky, akin to gambling.

The analysis of the leaks suggests most users were not highly aware of both internet and identity security. As much as half the emails may be linked to a name, only based on the actual composition of the address.

Some of the leaked emails were also compromised. This means BitMEX or even unrelated accounts can be at risk for exploitation. Taking over an exchange account could empty balances, or cause rogue trades. So far, none of this has affected the markets, though the attack coincided with a hack of the official BitMEX Twitter handle.

The emails, which contain several .gov and .edu extensions, can potentially lead the taxman to various persons. Dovey Wan, the co-founder of Primitive Crypto, commented that the emails may also be the basis for tax investigations.

Scammers, Phishers, and Taxman Attracted to Email Haul

While the emails have not been linked with transfers to BTC addresses, the new US IRS rules suggest that any BTC owner may have to report balances and be taxed either on capital gains or other forms of revenue.

BitMEX is still investigating the impact of the leaked emails, while telegram groups have been set to further spread the leak. Phishing scams or account thefts are possible with the easily discoverable information.

Unfortunately, BitMEX does not offer the option of an email ID change, and may require new KYC for all affected users.

What do you think about the latest BitMEX email leak? Share your thoughts in the comments section below!


Images via Bitcoinist Media Library, Twitter: @lawmaster, @DoveyWan, @BitMEXdotcom

The post BitMEX Email Leak: Details of 23,000 Doxxed Emails Now Out appeared first on Bitcoinist.com.

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