The past 24-hour have been wild for the crypto frontier, as some of the most popular exchanges have shown that they still lack the safe-guards and privacy procedures standard in more traditional markets, with BitMEX leaking private user data while Bitcoin’s price incurred anomalous behavior on Coinbase and Deribit, causing Halloween nightmares for crypto traders.
These events have led traders and investors alike to consider the options that lie in front of them, and also shows that platforms like BitMEX and Deribit may not be best for traders who are looking for a consistent and safe experience that also offers protections for their privacy.
BitMEX Doxes Users in Wide-Reaching Privacy Data Breach; The BitMEX Era May Be Coming to an End
Popular margin trading platform BitMEX unintentionally leaked user email addresses yesterday after forgetting to utilize the “Blind Closed Copy” (BCC) feature, which allowed all of the recipients of the email to see the email addresses of other users.
This data leak – which was acknowledged by the exchange in a recent blog post – has sparked outrage within the crypto community, with Jake Chervinsky, a prominent attorney who focuses primarily on cryptocurrencies, explaining in a tweet that this event occurred in “the most outrageously incompetent way imaginable.
“BitMEX just doxxed its users in the most outrageously incompetent way imaginable: forgetting to use blind copy on mass email,” he explained.
This data leak may mark a breach of the General Data Protection Regulations (GDPR) in the European Union, which may subject the exchange to more stringent regulations or possibly even fiscal penalties.
This event also comes on the heels of news regarding the US Commodities and Futures Trading Commission (CFTC) probing the exchange over client trades,