Ex Block Employee Stole More Than 8M Names And Account Numbers

Ex Block employee stole more than 8 million names and account numbers from the Cash App as Block said in its SEC filing so let’s read more in today’s latest cryptocurrency news.

Block or formerly known as Square, said that an ex Block employee downloaded Cash app investing reports that have customer names and brokerage account numbers back in December after he left the company. After the news, the stock price was down by 7% to $124. Block determined the breach occurred which means that it went undetected for four months. As of December, the app had 44 million monthly transacting customers in the US and Europe according to Block’s reports. The filing submitted to the SEC said:

“The information in the reports included full name and brokerage account number (this is the unique identification number associated with a customer’s stock activity on Cash App Investing), and for some customers also included brokerage portfolio value, brokerage portfolio holdings, and/or stock trading activity for one trading day.”

Block said that the reports didn’t include passwords, usernames, Social security numbers, dates of birth, addresses and payment information, or other personally identifiable information. The company said it will reach out to the 8.2 million current and former customers and will alert them of the data breach. Companies often have only four business days to file a report with the SEC after the qualifying event, but a cash app spokesperson said:

“Upon discovery, we took steps to remediate this issue and launched an investigation with the help of a leading forensics firm. We know how these reports were accessed, and we have notified law enforcement. We are also contacting customers whose data was impacted. In addition, we continue to review and strengthen administrative and technical safeguards to protect information.”

As recently reported, Dorsey revealed plans that Block could create a BTC mining system with the network being able to use custom silicon and open source development with the American thinking mining has to be more energy-efficient and could be a challenging niche. His company’s initaitive aims to establish even more technical integrations in the industry by prototyping some more efficient hashing algorithms and power architecture. Dorsey’s company became the second-biggest shareholder on the exchange after Nexon’s holdings company NXS which owns 48%.