What happened?
Hackers took control of rapper Migos’ Instagram account and used it to release sensitive personal information belonging to Solana co-founder Raj Gokal. This information included passport and KYC documents, and the hackers demanded a ransom of 40 bitcoins. The post was removed from Migos’ Instagram account about an hour later.
Who does this affect?
This incident directly affects Raj Gokal and his family, as their private information was exposed online. It also raises concerns for Coinbase users because the leaked images appear to originate from a recent data breach at the company. Additionally, it impacts Migos, as their Instagram account was exploited to carry out this attack.
Why does this matter?
This incident highlights the ongoing vulnerabilities and security challenges in the cryptocurrency industry, affecting major players like Solana and Coinbase. Such breaches can lead to significant financial and reputational damage, as demonstrated by the class action lawsuit Coinbase is facing. It underscores the need for stronger cybersecurity measures to protect user data and prevent similar market disruptions.