Coinsquare has become the latest victim of a security breach that compromised users’ personal details, the platform confirmed last weekend by sending an email to its users.

The trading platform explained that the hack exposed customers’ names, email addresses, residential addresses, phone numbers, dates of birth, device identifiers, public wallet addresses, transaction history, and account balances.

The platform also reported unusual activity on November 19, as it underwent unscheduled maintenance.

At the time, the exchange did not say whether this was a security breach.

The platform also fully restored its services on Friday before emails were sent to users about the security breach.

Cryptocurrency is safe:

The email sent to Coinsquare users highlighted that the security breach did not affect the passwords and therefore the users’ tokens remained safe.

Read:“Phone calls” .. fraud costs the cryptocurrency community in losses of 100 million dollars

The email sent to users stated:

No passwords detected.

We have no evidence that any of this information was ever seen by the bad hacker.

Your assets have always been and are safe in cold storage and are not in danger.

However, a personal information breach can also lead to the targeting of user accounts.

In a sense, leaked information can make identity theft and fraud more accessible.

A similar data breach of Australian telecoms provider Optus earlier this year prompted the country’s financial market watchdog to warn financial brokers of the growing risks of identity theft.

The Canadian platform also warned users not to change their passwords and enabled two-factor authentication (2FA) to ensure safety.

Coinsquare promotes itself as Canada’s trusted platform to securely buy, sell, and trade Bitcoin, Ethereum, and more and obtained registration from the Investment Industry Regulatory Organization of Canada (IIROC) a month ago.

The security incident with the trading platform occurred when the cryptocurrency industry was reeling from the effects of the FTX crash.

Read:The total market capitalization of the cryptocurrency market reaches a new record, and Bitcoin reaches 34 thousand dollars

Coinsquare’s initial unscheduled maintenance sparked speculation of potential liquidity issues.

However, confirmation of the security breach ruled out these concerns.

Earlier this month, the now defunct cryptocurrency platform FTX was hacked, leading to the theft of at least $1 billion in cryptocurrency.

The platform and its 130-plus affiliates have now filed for bankruptcy protection in the US.

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