Paysafe’s Current Accounts Safe From Past Breach

British mobile payments company Paysafe announced that the two instances of hacks, which stole data from its 7.8 million accounts, could not affect its current customer accounts.

The 2010 attack on the databases of Paysafe’s subsidiary, NETELLER, and the 2009 attack on Skrill — previously known as Moneybookers and now owned by Paysafe — affected limited account details of 3.6 million accounts and basic personal details of 4.2 million accounts, respectively. However, now the company is claiming its certainty about the extent of the breach, saying that the stolen data from the 2009 and 2010 breaches could not compromise details of existing NETELLER and Skrill customers.

The latest statement comes after the company ran an investigation to verify reports that said its stolen data was being made available in the public domain through the Dark Web. The alleged reports led the shares of the company to take an 11 percent nosedive to hit 309.5 pence, according to Reuters. However, the results may now bring some relief to the stock value of the company, as well as its revenue.

Paysafe said its investigation has concluded that less than 2 percent of the breached NETELLER and Skrill accounts were active in the six months leading up to Nov. 1, 2015, and that the company has not been breached since. It further added that it found a total of 1,500 accounts were compromised after the 2010 hack.

In a statement, the company added that it has reimbursed the affected customers and has since taken measures to ensure its defense against such attacks, making a “significant investment” in building up its cybersecurity shield.

Earlier this year, Paysafe — formerly known as Optimal Payments — merged with Skrill Group in a $1.2 billion deal to raise its annual revenue to $697 million. The deal combined Paysafe’s NETELLER digital payment platform with Skrill’s eWallet service. Now, fully combined, the company processes over 100 payment types in 41 currencies for online gambling, eCommerce and digital media payments.


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