Crypto custody firm Copper alerted to Christmas security incident

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Cryptocurrency custody provider Copper was alerted to a security issue over the Christmas period in December involving the company’s GitHub repository, which contains a plan for how the company secures assets client.

Copper is a leading crypto custody service provider, securing billions of dollars in digital assets using smart key-sharing technology called Multiparty Computing (MPC) and working with well-known companies such as than State Street.

“No customers were compromised,” Copper said in a statement to CoinDesk.

Copper said one of its vendors detected concerning behavior in its development environment and triggered a machine-generated alert.

The ensuing investigation determined that Copper had not suffered any breaches or business interruptions and that no customer information had been compromised, Copper said in a statement. The incident was not of a nature requiring disclosure under applicable law or regulation, operations continued smoothly and caused no further concern to the company.

Slack, the popular business messaging platform, also suffered a security incident over the holiday season affecting some of its private GitHub code repositories.

Although Coppers claims no breaches of its code took place, two people with knowledge of the situation told CoinDesk that the company’s codebase was breached and copied.

There was a serious breach at the end of last year, where one of the developers’ accounts was compromised. That meant the entire codebase was made vulnerable and downloaded, one of the people said. In practice, it exposes the intricacies and workings of the entire platform to a group of malicious actors.

Former UK Chancellor of the Exchequer Philip Hammond, who was recently appointed chairman of Copper, said in an interview that the company was close to finalizing a funding round.

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