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Unveiling the MailerLite Phishing Attack: A Deep Dive into the Crypto Market Breach

The recent phishing attack on email service provider MailerLite has raised significant concerns within the crypto market. The company disclosed to Decrypt that the breach, which occurred when a support team member unwittingly fell victim to a deceptive link and provided their Google credentials, resulted in unauthorized access to MailerLite's internal system. Here are the key points of the incident: Hackers gained access to MailerLite's internal system by executing a password reset for a specific user on the admin panel. They were able to impersonate user accounts, focusing primarily on cryptocurrency-related accounts. A total of 117 accounts were accessed, with some being used to launch phishing campaigns using stolen information. Notable affected accounts included CoinTelegraph, Wallet Connect, Token Terminal, DeFi, and Decrypt. The hackers managed to steal over $580,000, according to ZachXBT, with the funds being sent to a specified address. Web3 security firm Blockai

Kraken to Share User Data with IRS: Implications for Privacy and Compliance

Crypto exchange Kraken has announced that it will be sharing data on tens of thousands of its users with the Internal Revenue Service (IRS) in compliance with a court order. The information that will be shared includes cryptocurrency transactions above $20,000 made by Kraken customers between 2016 and 2020. This data will include the users' name, date of birth, Tax ID, address, and contact information. The affected Kraken customers were notified via email on Wednesday, and the company plans to share the user information with the IRS in early November.

Kraken's decision to share this information comes after a two-year legal battle with the federal government over data sharing. In June, a federal judge ordered Kraken to comply with the IRS's request. Despite initially resisting, Kraken is now framing the matter as a victory for privacy advocates and its clients. The company claims that it convinced the court to reject intrusive demands from the IRS, such as IP addresses, employment information, sources of wealth, net worth, and banking details. Kraken maintains that it will always stand up for the privacy of its clients.

It is worth noting that Kraken is not the first crypto exchange to be forced to comply with the IRS's demands. In 2018, American crypto exchange Coinbase was ordered by a federal judge to provide select user data to the tax collecting agency. This highlights the increasing scrutiny that crypto exchanges are facing as regulators seek to ensure compliance with tax laws.

Kraken's decision to share user data with the IRS raises important questions about the balance between privacy and regulatory compliance in the cryptocurrency industry. While some may view this as a necessary step to ensure transparency and prevent illicit activities, others may see it as an infringement on user privacy. As the crypto industry continues to evolve, it is likely that we will see more debates and legal battles surrounding data privacy and regulatory compliance.

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