Crypto lending platform, BlockFi has confirmed a data breach incident that took place last Friday using one of its third-party vendors, Hubspot. It was providing customer relationship management (CRM
Customer Relationship Management (CRM)
Customer Relationship Management (CRM) is a way for brokers to manage the firm’s contacts with existing and potential clients. The firm is using data available from the customer’s trading activity to determine an appropriate course of action when aiming to retain or onboard the customer.This technology is also an effective tool in managing a company’s interaction with both current and potential clients. CRMs use data analysis regarding clients’ history with a company to improve business relationships with customers, specifically focusing on customer retention and ultimately driving sales growth.One noteworthy component of a CRM is the systems it relies on to help compile data from a range of different communication channels, including a company’s website, telephone, email, live chat, marketing materials and more recently, social media. CRMs are very important for brokers in helping them learn more about their targeted audiences and how to best cater to their needs.Why CRMs Have Reshaped the IndustryBrokers use different CRM systems in order to maximize their potential sales or provide support via live chat, telephone or email. In general, CRM systems also provide brokers with useful data on how to execute their marketing campaigns and how to better service the needs of their clients.Historically speaking, firms had been allowed more latitude to be proactive, though recent regulatory tightening has limited these means of retaining clients and providing them with incentives. The data analysis which companies do typically provide the broker with cues about when is a good time to remind a client to make a new deposit and therefore increase the company’s turnover.CRM technology has become a premium amongst brokers as competition has increased in the FX industry. The outbreak of the Coronavirus Pandemic in 2020 has also created larger swaths of potential clients, making technology such as CRMs even more instrumental to brokerage operations.
Customer Relationship Management (CRM) is a way for brokers to manage the firm’s contacts with existing and potential clients. The firm is using data available from the customer’s trading activity to determine an appropriate course of action when aiming to retain or onboard the customer.This technology is also an effective tool in managing a company’s interaction with both current and potential clients. CRMs use data analysis regarding clients’ history with a company to improve business relationships with customers, specifically focusing on customer retention and ultimately driving sales growth.One noteworthy component of a CRM is the systems it relies on to help compile data from a range of different communication channels, including a company’s website, telephone, email, live chat, marketing materials and more recently, social media. CRMs are very important for brokers in helping them learn more about their targeted audiences and how to best cater to their needs.Why CRMs Have Reshaped the IndustryBrokers use different CRM systems in order to maximize their potential sales or provide support via live chat, telephone or email. In general, CRM systems also provide brokers with useful data on how to execute their marketing campaigns and how to better service the needs of their clients.Historically speaking, firms had been allowed more latitude to be proactive, though recent regulatory tightening has limited these means of retaining clients and providing them with incentives. The data analysis which companies do typically provide the broker with cues about when is a good time to remind a client to make a new deposit and therefore increase the company’s turnover.CRM technology has become a premium amongst brokers as competition has increased in the FX industry. The outbreak of the Coronavirus Pandemic in 2020 has also created larger swaths of potential clients, making technology such as CRMs even more instrumental to brokerage operations.
Read this Term) and marketing tools to BlockFi.
The New Jersey-based company detailed that an unauthorized third party gained access to Hubspot’s internal systems and compromised a portion of their client data, including certain BlockFi client data. The compromised data include names, emails, phone numbers, company emails and details of the customers’ BlockFi relationship manager.
BlockFi has clarified that its internal systems are safe, and the client funds are also not at risk. But the company is concerned about phishing and other types of hacking attempts using the leaked data that could put its clients at risk. It is particularly worried about SIM swap attacks as fraudsters can impersonate some customers to the relationship manager.
“While this incident occurred at Hubspot and affected a large group of organizations, we at BlockFi take the security of vendor systems incredibly seriously, and we are notifying you directly,” BlockFi’s Chief Security Officer, Adam Healy said in a public announcement.
“We recommend heightened vigilance as we anticipate an increase in phishing
Phishing
Phishing is a form of cyber-attack in which fake websites, emails, and text messages are used to elicit personal data. The most common targets in this assault are passwords, private cryptocurrency keys, and credit card details.Phishers disguise themselves as reputable businesses and other types of entities. In certain instances, reputable government organizations or authorities are impersonated in order to collect this data.Because phishing relies on psychological manipulation rather than technological skill, it is considered to be a social engineering attack. The most common methods for phishing are email, telephone, or text message.How to Defend Against Phishing Attacks?Every phishing attempt has a few basic things in common, which individuals need to be aware of.You should always be on the lookout for offers that are overly lucrative or too good to be true. Click-bait titles or rewards and prizes without any context are red flags.Additionally, a sense of urgency should always be approached with caution. A favorite tactic amongst cybercriminals is to ask you to act fast because the super deals are only for a limited time.Finally, individuals should always be mindful of unusual senders and questionable attachments or hyperlinks. Simply hovering over a link shows you the actual URL where you will be directed upon clicking on it. If anything seems out of the ordinary, unexpected, or simply suspicious it is best to avoid clicking on any links. In the cryptocurrency world, phishing attacks come in forms such as fake wallets that unsuspectingly collect users’ private keys.Fake exchange login pages that collect users’ login data, and fake wallet seed generators that create and then collect the regenerative phrases used to make cryptocurrency wallets.
Phishing is a form of cyber-attack in which fake websites, emails, and text messages are used to elicit personal data. The most common targets in this assault are passwords, private cryptocurrency keys, and credit card details.Phishers disguise themselves as reputable businesses and other types of entities. In certain instances, reputable government organizations or authorities are impersonated in order to collect this data.Because phishing relies on psychological manipulation rather than technological skill, it is considered to be a social engineering attack. The most common methods for phishing are email, telephone, or text message.How to Defend Against Phishing Attacks?Every phishing attempt has a few basic things in common, which individuals need to be aware of.You should always be on the lookout for offers that are overly lucrative or too good to be true. Click-bait titles or rewards and prizes without any context are red flags.Additionally, a sense of urgency should always be approached with caution. A favorite tactic amongst cybercriminals is to ask you to act fast because the super deals are only for a limited time.Finally, individuals should always be mindful of unusual senders and questionable attachments or hyperlinks. Simply hovering over a link shows you the actual URL where you will be directed upon clicking on it. If anything seems out of the ordinary, unexpected, or simply suspicious it is best to avoid clicking on any links. In the cryptocurrency world, phishing attacks come in forms such as fake wallets that unsuspectingly collect users’ private keys.Fake exchange login pages that collect users’ login data, and fake wallet seed generators that create and then collect the regenerative phrases used to make cryptocurrency wallets.
Read this Term emails and scams.”
Heightened Security
BlockFi further said that it has implemented additional security measures to protect its platform and client assets after the data breach. “We are remaining extra vigilant and encourage all of our clients and the crypto community at large to do the same,” Healy said.
BlockFi is one of the major crypto lending platforms that is offering interest-bearing cryptocurrency accounts to its retail customers. However, the company came under regulatory scrutiny in the US for its operations and settled with federal and state regulators for $100 million. It has also agreed to stop opening new American accounts, but the existing client base would not be impacted.
Crypto lending platform, BlockFi has confirmed a data breach incident that took place last Friday using one of its third-party vendors, Hubspot. It was providing customer relationship management (CRM
Customer Relationship Management (CRM)
Customer Relationship Management (CRM) is a way for brokers to manage the firm’s contacts with existing and potential clients. The firm is using data available from the customer’s trading activity to determine an appropriate course of action when aiming to retain or onboard the customer.This technology is also an effective tool in managing a company’s interaction with both current and potential clients. CRMs use data analysis regarding clients’ history with a company to improve business relationships with customers, specifically focusing on customer retention and ultimately driving sales growth.One noteworthy component of a CRM is the systems it relies on to help compile data from a range of different communication channels, including a company’s website, telephone, email, live chat, marketing materials and more recently, social media. CRMs are very important for brokers in helping them learn more about their targeted audiences and how to best cater to their needs.Why CRMs Have Reshaped the IndustryBrokers use different CRM systems in order to maximize their potential sales or provide support via live chat, telephone or email. In general, CRM systems also provide brokers with useful data on how to execute their marketing campaigns and how to better service the needs of their clients.Historically speaking, firms had been allowed more latitude to be proactive, though recent regulatory tightening has limited these means of retaining clients and providing them with incentives. The data analysis which companies do typically provide the broker with cues about when is a good time to remind a client to make a new deposit and therefore increase the company’s turnover.CRM technology has become a premium amongst brokers as competition has increased in the FX industry. The outbreak of the Coronavirus Pandemic in 2020 has also created larger swaths of potential clients, making technology such as CRMs even more instrumental to brokerage operations.
Customer Relationship Management (CRM) is a way for brokers to manage the firm’s contacts with existing and potential clients. The firm is using data available from the customer’s trading activity to determine an appropriate course of action when aiming to retain or onboard the customer.This technology is also an effective tool in managing a company’s interaction with both current and potential clients. CRMs use data analysis regarding clients’ history with a company to improve business relationships with customers, specifically focusing on customer retention and ultimately driving sales growth.One noteworthy component of a CRM is the systems it relies on to help compile data from a range of different communication channels, including a company’s website, telephone, email, live chat, marketing materials and more recently, social media. CRMs are very important for brokers in helping them learn more about their targeted audiences and how to best cater to their needs.Why CRMs Have Reshaped the IndustryBrokers use different CRM systems in order to maximize their potential sales or provide support via live chat, telephone or email. In general, CRM systems also provide brokers with useful data on how to execute their marketing campaigns and how to better service the needs of their clients.Historically speaking, firms had been allowed more latitude to be proactive, though recent regulatory tightening has limited these means of retaining clients and providing them with incentives. The data analysis which companies do typically provide the broker with cues about when is a good time to remind a client to make a new deposit and therefore increase the company’s turnover.CRM technology has become a premium amongst brokers as competition has increased in the FX industry. The outbreak of the Coronavirus Pandemic in 2020 has also created larger swaths of potential clients, making technology such as CRMs even more instrumental to brokerage operations.
Read this Term) and marketing tools to BlockFi.
The New Jersey-based company detailed that an unauthorized third party gained access to Hubspot’s internal systems and compromised a portion of their client data, including certain BlockFi client data. The compromised data include names, emails, phone numbers, company emails and details of the customers’ BlockFi relationship manager.
BlockFi has clarified that its internal systems are safe, and the client funds are also not at risk. But the company is concerned about phishing and other types of hacking attempts using the leaked data that could put its clients at risk. It is particularly worried about SIM swap attacks as fraudsters can impersonate some customers to the relationship manager.
“While this incident occurred at Hubspot and affected a large group of organizations, we at BlockFi take the security of vendor systems incredibly seriously, and we are notifying you directly,” BlockFi’s Chief Security Officer, Adam Healy said in a public announcement.
“We recommend heightened vigilance as we anticipate an increase in phishing
Phishing
Phishing is a form of cyber-attack in which fake websites, emails, and text messages are used to elicit personal data. The most common targets in this assault are passwords, private cryptocurrency keys, and credit card details.Phishers disguise themselves as reputable businesses and other types of entities. In certain instances, reputable government organizations or authorities are impersonated in order to collect this data.Because phishing relies on psychological manipulation rather than technological skill, it is considered to be a social engineering attack. The most common methods for phishing are email, telephone, or text message.How to Defend Against Phishing Attacks?Every phishing attempt has a few basic things in common, which individuals need to be aware of.You should always be on the lookout for offers that are overly lucrative or too good to be true. Click-bait titles or rewards and prizes without any context are red flags.Additionally, a sense of urgency should always be approached with caution. A favorite tactic amongst cybercriminals is to ask you to act fast because the super deals are only for a limited time.Finally, individuals should always be mindful of unusual senders and questionable attachments or hyperlinks. Simply hovering over a link shows you the actual URL where you will be directed upon clicking on it. If anything seems out of the ordinary, unexpected, or simply suspicious it is best to avoid clicking on any links. In the cryptocurrency world, phishing attacks come in forms such as fake wallets that unsuspectingly collect users’ private keys.Fake exchange login pages that collect users’ login data, and fake wallet seed generators that create and then collect the regenerative phrases used to make cryptocurrency wallets.
Phishing is a form of cyber-attack in which fake websites, emails, and text messages are used to elicit personal data. The most common targets in this assault are passwords, private cryptocurrency keys, and credit card details.Phishers disguise themselves as reputable businesses and other types of entities. In certain instances, reputable government organizations or authorities are impersonated in order to collect this data.Because phishing relies on psychological manipulation rather than technological skill, it is considered to be a social engineering attack. The most common methods for phishing are email, telephone, or text message.How to Defend Against Phishing Attacks?Every phishing attempt has a few basic things in common, which individuals need to be aware of.You should always be on the lookout for offers that are overly lucrative or too good to be true. Click-bait titles or rewards and prizes without any context are red flags.Additionally, a sense of urgency should always be approached with caution. A favorite tactic amongst cybercriminals is to ask you to act fast because the super deals are only for a limited time.Finally, individuals should always be mindful of unusual senders and questionable attachments or hyperlinks. Simply hovering over a link shows you the actual URL where you will be directed upon clicking on it. If anything seems out of the ordinary, unexpected, or simply suspicious it is best to avoid clicking on any links. In the cryptocurrency world, phishing attacks come in forms such as fake wallets that unsuspectingly collect users’ private keys.Fake exchange login pages that collect users’ login data, and fake wallet seed generators that create and then collect the regenerative phrases used to make cryptocurrency wallets.
Read this Term emails and scams.”
Heightened Security
BlockFi further said that it has implemented additional security measures to protect its platform and client assets after the data breach. “We are remaining extra vigilant and encourage all of our clients and the crypto community at large to do the same,” Healy said.
BlockFi is one of the major crypto lending platforms that is offering interest-bearing cryptocurrency accounts to its retail customers. However, the company came under regulatory scrutiny in the US for its operations and settled with federal and state regulators for $100 million. It has also agreed to stop opening new American accounts, but the existing client base would not be impacted.
Source: https://www.financemagnates.com/cryptocurrency/news/blockfi-warns-against-phishing-attacks-after-vendor-data-breach/