A Look at the Recent Crypto Tax Platform Hack in France

In France, a recent cyber incident has put thousands of crypto users at risk. The breach happened on a platform called Waltio, which helps people with crypto taxes. Hackers got their hands on personal details of about 50, 000 users, mostly in France. The hackers, who call themselves Shiny Hunters, demanded a ransom from Waltio. This is not the first time hackers have targeted crypto platforms. They often sell stolen data or use it to scare people into giving up their digital money. French authorities are now investigating. They warn that affected users might be targeted. Hackers could pretend to be security experts and trick users into moving their crypto. This is a serious issue, as some users have even been kidnapped or threatened to hand over their digital assets.This type of crime is known as a \"wrench attack. \" It involves criminals using force or threats to get crypto users to transfer their funds. France is not the only country dealing with this problem. Similar cases have been reported worldwide. Meanwhile, French financial regulators are cracking down on crypto companies. They are warning firms to follow new EU rules called MiCA. Companies have until June 30 to comply or shut down. This is part of a bigger effort to regulate the crypto industry in Europe. The recent hack shows how important it is to protect personal data. Users should be careful and use strong security measures. Platforms like Waltio must also step up their security to prevent such breaches in the future.