Stolen Morgan Stanley Data Offered on Pastebin in Exchange for Obscure Alt Speedcoin

Stolen Morgan Stanley client data was offered in a Pastebin posting in Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term for 78,000 speedcoins.

The bank reportedly became aware of the breach, potentially affecting up to 350,000 wealth management clients, because of the posting.

According to its website, Speedcoin is a Scrypt-based, pre-mined altcoin offering 60-second block times. The main idea behind Speedcoin is different. It is to evenly distribute pre-mined speedcoins amongst millions of world internet users (with the user only needing to have a Facebook account) through an open clear process.

According to cryptonator.com, one speedcoin is worth 13 satoshi (0.00000013 BTC), which would make the proposed reward worth a total of roughly $2.80.

A sample of data from 900 clients was posted on Pastebin, with the poster offering more in exchange for the payment. The information, which was later removed upon request by Morgan Stanley, did not include passwords or social security numbers.

A financial advisor accused of stealing the data was fired, although his attorney maintains that his client did not post the data online, share it or intend to sell it. He did not comment on why his client obtained the data. The accused is cooperating with investigations.

The breach comes roughly four months after Russian hackers reportedly broke into JPMorgan's systems, gaining access to personal data of 83 million clients.