Posted On December 12, 2024 Consumer Privacy & Data Breaches
December 12 – The Byte Federal data breach lawyers at Console & Associates, P.C are investigating the data breach that was reported after the company was targeted in a recent cyber security attack. The Byte Federal data breach resulted in the exposure of highly sensitive personal information including names, birthdates, addresses, phone numbers, email addresses, government-issued IDs, Social Security numbers, transaction activity, and photographs of certain individuals being compromised. It is believed to have impacted as many as 58,000 individuals.
According to the Maine Attorney General’s office, Byte Federal reported a data breach after they were targeted in a cyber security attack that exploited a vulnerability in their GitLab software platform. The unauthorized access was discovered on November 18, 2024, prompting immediate action from the company. Byte Federal responded by shutting down their platform, isolating the threat, and implementing security measures including resetting all customer accounts and updating passwords. The company also engaged third-party cybersecurity experts to conduct a thorough investigation of the incident.
On December 12, 2024, Byte Federal began sending out data breach letters to all individuals whose information was compromised in the incident. These notification letters include specific details about what personal information was exposed for each affected individual.
Byte Federal Inc. operates in the cryptocurrency accessibility market, operating a network of Bitcoin ATMs across the United States from their headquarters in Venice, Florida. The company’s approach to cryptocurrency trading extends beyond physical ATMs through their proprietary ByteWallet application, which enables users to manage their digital currency portfolios directly from their mobile devices.
With a workforce of over 61 employees and annual revenue reaching approximately $5 million, Byte Federal has positioned itself at the intersection of traditional banking infrastructure and cryptocurrency adoption. Their business model focuses on making cryptocurrency transactions more accessible to mainstream users by providing physical locations for buying and selling digital assets, complemented by their mobile wallet solution.
Our data breach lawyers are eager to speak to victims of the Byte Federal data breach to determine what damages they sustained and what compensation may be available to them. If you recently received a NOTICE OF DATA BREACH from Byte Federal and would like a free consultation, contact the Console & Associates, P.C. law firm at (866) 778-5500 to discuss your legal options, or submit a confidential contact form.
