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LastPass data breach resulted in $53,000 worth of Bitcoin being stolen, lawsuit alleges

Published on

January 5, 2023
Read Time:2 Minute, 0 Second

A category-action lawsuit was filed in opposition to password administration service LastPass following an information breach in August 2022.

The category motion lawsuit was filed within the US District Courtroom of Massachusetts on January 3 by an unnamed plaintiff recognized solely as "John Doe" and on behalf of others in the same place.

It's claimed that the LastPass information breach led to the theft of round $53,000 price of Bitcoin.

The plaintiff claimed he began accumulating BTC in July 2022 and up to date his grasp password to greater than 12 characters utilizing a password generator, as advisable by LastPass “Finest Practices.”

This was achieved to permit storage of personal keys within the seemingly safe LastPass buyer vault.

When information of the info breach broke, the plaintiff deleted his personal information from his buyer vault. LastPass was hacked in August 2022, with the attacker stealing encrypted passwords and different information, in keeping with an organization assertion in December.

Regardless of the swift motion taken to delete the info, it gave the impression to be too late for the plaintiff. The lawsuit learn:

Nonetheless, on or round Thanksgiving weekend 2022, Plaintiff's bitcoin was stolen utilizing the personal keys he had on file with Defendant [LastPass].”

“The LastPass information breach uncovered him to the theft of his bitcoin by means of no fault of his personal and put him at ongoing danger,” he added.

The lawsuit alleges that the victims have been positioned at elevated vital danger of future fraud and misuse of their personal data, which may take years to manifest, uncover and expose.

LastPass has been charged with negligence, breach of contract, unjust enrichment and breach of fiduciary obligation, however has not specified the quantity of damages it's in search of.

Associated: 5.7 million leaked emails have been affected by a "third-party incident".

In keeping with cybersecurity researcher Graham Cluley, that is stolen information contains unencrypted data, together with firm names, usernames, billing addresses, cellphone numbers, electronic mail addresses, IP addresses, and web site URLs from password vaults.

r/t LostPass?

After the LastPass hack, here is what it's worthwhile to know...https://t.co/8x47Vze0lb

— Graham Cluley (@gcluley) January 4, 2023

In December, LastPass admitted that if clients have weak grasp passwords, the attackers might be able to use brute pressure assaults to guess that password, which might permit them to decrypt the vaults.



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Azeez Mustafa
Azeez began his FinTech career path in 2008 after growing interest and intrigue about market wizards and how they managed to become victorious on the battlefield of the financial world. After a decade of learning, reading and training the ins and outs of the industry, he’s now a sought after trading professional, technical/currency analyst and funds manager – as well as an author.
Last Updated : January 5, 2023
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