Crypto community questions Strike’s reported denial of alleged security breach Crypto community questions Strike’s reported denial of alleged security breach
On-chain investigator ZachXBT said there is "tons of evidence" suggesting the Bitcoin payment company was breached.
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Updated: Oct. 31, 2023 at 12:04 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Cryptocurrency investigator ZachXBT and numerous members of the crypto community have raised concerns about the potential breach of Strike, a Bitcoin Lightning-based payment platform, despite its assurances to the contrary.
On Oct. 30, crypto-focused media outlet The Block reported that the BTC payment company said it found no evidence to support allegations that its database was breached despite the concerns raised by community members.
However, ZachXBT claims “tons of evidence of a breach,” pointing out the numerous complaints on social media platform X (formerly Twitter).
According to the on-chain researcher, Strike’s denial shows that the platform cannot be trusted, adding that the company had failed to take responsibility for customers’ losses arising from the compromise of its X account in August.
Strike has yet to respond to CryptoSlate’sย request for additional commentary as of press time.
Leaked database?
In recent days, several users have reported receiving suspicious phishing emails via their email addresses linked to the Strike platform.
RoxoXBT, a crypto investigator, suggested that the issue was not new, as someone had offered Strike’s database for sale as early as September 26.
ZachXBT also confirmed that the database exists as an unnamed individual had shared the database with him. “Someone shared a sample of a DB with me today, so I can confirm it exists,” he said.
Meanwhile, the current slew of phishing email allegations is coming on the heels of a breach of the platform’s X (formerly Twitter) official account in August. At the time, the company confirmed that it was “briefly compromised” but assured users that “nothing outside of our Strike handle was impacted.”
However, ZachXBT wondered if the two breaches are somewhat connected.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Strike
Strike allows users to send and receive money anywhere, instantly, with no fees.
ZachXBT is an independent on-chain sleuth who is popular on revealing bad actors in the crypto space.