Unicoin Hackers Breached Google Workspace Account, Locked Employees Out for Days

A hacker compromised Unicoin's Google Workspace (formerly G-Suite) account and changed the passwords for all company employees, locking them out of their corporate accounts for days.

A hacker managed to compromise Unicoin's Google Workspace (formerly G-Suite) account and changed the passwords for all company employees, an incident that locked them out of their corporate accounts for days on end.

Unicoin is an asset-backed, audited, and publicly reporting cryptocurrency project. It is the official token of the “Unicorn Hunters” business series, focused on providing novel investment opportunities.

According to a filing with the U.S. Security and Exchanges Commission (SEC), after gaining access to the company's Google account, the threat actor proceeded to modify the passwords, thus denying employee access to all services in the environment, including Gmail and Drive.

Unicoin says that it managed to restore access for its staff to G-Suite about four days later, on August 13.

“On August 9, 2024, Unicoin Inc. detected an unknown threat actor had gained access to the Company’s Google G-Suite account and changed passwords of all users of the Company’s G-Suite products (i.e., G-Mail, G-Drive and other related G-Suite functionality), thereby denying access to all users having an “@unicoin.com” email address,” reads the SEC Form 8-K filing.

“On or about August 13, 2024, the company was able to remove the threat actor’s access to the G-Suite accounts and restore access to its internal users.”

During this time, the threat actor could freely access confidential information present in internal communications.

The company is still assessing the extent and impact of the incident but has already found the following evidence of data access, manipulation, and fraud attempts:

Despite the breach of the company’s cloud environment for productivity and collaboration, Unicoin does not believe that the event will have a material impact on its financial status and has seen no evidence of crypto assets or cash losses linked to the event.