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Bit24.cash, an Iranian exchange, faces KYC data breach affecting 230K users. Research uncovers misconfiguration, exposing passports, IDs, and credit cards. Conflicting claims between Cybernews and Bit24.cash prompt user concerns. Bit24.cash, a prominent Iran ian cryptocurrency exchange, is under scrutiny following report s of a significant security breach . Cybernews researchers uncovered a misconfiguration in the platform’s cloud storage system, leading to unauthorized access and exposing sensitive Know Your Customer (KYC) data of nearly 230,000 users. The incident raises concerns about user data protection in the cryptocurrency industry, as conflicting narratives emerge between the research findings and Bit24.cash’s official response. Passports, IDs, and credit cards info compromised The research by Cybernews exposed a misconfiguration in the exchange’s cloud storage system, providing unauthorized access to KYC data. The compromised inf...

In August, the IRS unveiled its proposed crypto tax report ing requirements, which are slated to become enforceable in 2026. However, a group of seven senators, including prominent figures like Elizabeth Warren and Bernie Sanders, believes that this timeline falls short of the urgency required. These senators have jointly petitioned the Treasury Department and the Internal Revenue Service (IRS) to expedite the implementation of a rule that mandates specific tax report ing obligations for crypto brokers as swiftly as possible. In a letter dated October 10, addressed to Treasury Secretary Janet Yellen and IRS Commissioner Daniel Werfel, they expressed their concerns about the two-year postponement in instituting these crypto tax report ing requirements. The regulations, as currently outlined, are set to take effect in 2026 for transactions occurring in 2025. The senators argue that this delay could potentially cost the IRS approximately $50 billion in annual tax revenue and perpetuat...