Application security, Compliance Management, Incident Response, Privacy, TDR

Bitcoin exchange compromised through SendGrid account

The SendGrid email service favored by companies like Uber and Spotify was used by hackers to worm their way into the Coinbase Bitcoin exchange.

The email service said a client involved in Bitcoin was infiltrated Wednesday, according to a report in the New York Times, which said that Coinbase had later confirmed that its SendGrid account had been compromised. The company also said the attack didn't result in any Bitcoin being stolen.

SendGrid, which the Times said sends 14 billion emails monthly, believes the attack was isolated. But, the Times noted, the pattern is similar to an attack on a former SendGrid customer that occurred last year. SendGrid, and services like it, are targets of hackers because they can send out large numbers of spear-phishing emails.

Get daily email updates

SC Media's daily must-read of the most current and pressing daily news

By clicking the Subscribe button below, you agree to SC Media Terms and Conditions and Privacy Policy.