Crypto Custody Firm Copper Alerted by Security Incident Over Christmas

Copper, a cryptocurrency custody provider, was alerted to a security problem over December’s Christmas period. It involved Copper’s GitHub repository. This repository contains a blueprint of how Copper secures customers assets.

Copper is a leading crypto custody provider, protecting billions in digital assets with clever key sharding technology called Multi-Party Computing (MPC) and working with well-known companies like State Street.

Copper stated in a statement to CoinDesk that “no clients were compromised”.

Copper claimed that one of its vendors had “detected certain concerning behavior within their development environment”, and that a machine-generated alert was triggered.

Copper released a statement saying that the investigation found that Copper had not suffered any business interruption or breach and that no client data was compromised. The incident did not require disclosure under applicable laws or regulations. Operations continued as normal and were not a concern for the company.

Slack, a popular messaging platform for professionals, is also available. Over the year-end holidays, a security incident occurred affecting some of its private GitHub codes repositories.

Copper claimed that there had been no code breach, but two people who knew the facts told CoinDesk that the codebase of the company had been compromised and copied.

“There was a serious security breach in late 2013 that saw one of the developer accounts compromised. One person said that the entire code base was vulnerable and could be downloaded. It exposes the workings and intricacies of the whole platform to malicious actors.

In an interview, Philip Hammond, former U.K. Chancellor, stated that Copper is nearing a funding round.

By David Warsh

David Warsh is a leading expert in the field of cryptocurrency and blockchain technology. With over a decade of experience in the industry, he has a deep understanding of the intricacies of digital currencies and the potential they hold for revolutionizing various industries.