Nansen has informed its users of a security incident from its third-party vendors. The company has asked affected users to reset their passwords immediately.
Security incidents are frequent in the crypto ecosystem. The on-chain analytics platform Nansen is the latest victim.
Hackers Stole Password Hashes of Nansen Users
Nansen shared a photo informing users about the security incident. It wrote:
“On Sept. 20, Nansen was notified by one of our third-party vendors that their systems had been compromised. A breach on the vendor’s side gave an attacker access to admin rights to an account used to provision customer access to our platform. We managed to stop the unauthorized access shortly after learning about it and launched an immediate investigation.”
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Due to the security breach, the hackers accessed data such as email addresses, blockchain addresses, and password hashes of the Nansen users. Overall, 6.8% of Nansen customers were impacted by the security incident.
The company did not name its third-party vendor but revealed that its services are used by Fortune 500 companies. Also, Nansen asked its vendor to disclose the breach publicly.
A community member appreciated Nansen for its transparency. They wrote:
“Kudos to Nansen for their transparency and speed of response. This is a very difficult situation to deal with and especially sucks when it’s a 3rd party vendor that’s at fault.”
However, some have also criticized the company for shifting the blame on its third-party vendor. An X (Twitter) user wrote:
“Nansen hacked. A classical ‘we used a shitty service provider, sorry’ story.”
In June 2021, BeInCrypto reported that Nansen raised $12 million through a Series A round led by Andreessen Horowitz. According to Crunchbase, later in December 2021, it raised $75 million in a Series B round.
As a result of the crypto bear market, Nansen reduced its headcount by 30% in May 2023.
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