Adrian Johnson
TLDR: Unicoin Recovers from G-Suite Raid, Hints at Data Woes
Key Points:
- Unknown attacker compromised Unicoin’s G-Suite, locking all staff out of their accounts
- Unicoin has regained access to G-Suite but is still investigating potential data compromises
In a recent incident, Unicoin, the cryptocurrency offshoot of reality TV show Unicorn Hunters, experienced an unknown attacker compromising its G-Suite, resulting in all staff being locked out of their accounts. The incident took place on August 9, with the attacker having enough privileges to change every single user account password, resulting in a complete lockdown for the organization. Although Unicoin has regained access to its G-Suite, investigations are ongoing to determine the extent of data compromises.
Four major discoveries were made at the time of the SEC filing, including attackers breaking into the company’s G-Suite, discrepancies found in corporate accounts, traces of email messages and accounts being accessed, and traces of identity forgery regarding a terminated contractor. While Unicoin has stated that no cash or cryptocurrency assets have been lost, the incident had a significant impact on the organization’s operations for approximately four days.
Unicoin markets itself as a stable investment backed by equity stakes in companies featured on Unicorn Hunters, a show where entrepreneurs seek investment for their ideas. The company has sold over $500 million worth of tokens to more than 7,000 investors and is looking to go public soon. Despite the attack, Unicoin aims to reassure shareholders that its financial condition has not been materially affected by the incident.
