Like traditional money, cryptocurrencies are being targeted by criminals. And this is a very lucrative market, with the equivalent of millions of pounds being stolen each year. Our data protection lawyers deal with a wide range of financial data breach cases every day, and one recent cryptocurrency case that our data breach solicitors have been involved in is the GateHub hack.
Initial media reports suggested that there were between 80 and 90 victims. However, we believed there could be many more. And, in some cases, the losses for a single victim could run to six figures.
One of our clients, in this case, was Neil*, who lost £220k due to the GateHub hack. GateHub denied responsibility and blamed Neil for purportedly using an insecure password without providing any evidence to substantiate that claim.
Representing Neil*, our data protection lawyers secured a £230k settlement against GateHub.
Despite common belief, cryptocurrency crimes do not represent an investigative dead-end. Our leading technical specialists investigate cryptocurrency cases to secure justice for victims. We have already pursued complex investigations into the security systems used by GateHub. Our data breach and cybercrime experts exposed that hackers faced flimsy security barriers before successfully accessing and stealing hundreds of thousands of pounds from customers. We also discovered that the hackers not only had knowledge of the encryption algorithms used, but that the organisation had little control over developers or their operations.
As inadequate security at GateHub made this hack possible, people affected by the cryptocurrency data breach may be able to claim compensation.
GateHub sent out an email to all users that might be affected by the hack. If you are one of the victims, you can make a cryptocurrency compensation claim.
*Real name cannot be disclosed for confidentiality purposes.
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