A hacking group called Shiny Hunters demanded ransom from Waltio after accessing personal data from 50,000 users. French authorities are investigating the breach, warning affected users of potential attempts to move their digital assets under false pretenses. Criminals globally target crypto users for extortion and kidnapping, posing a serious threat to their security.

In a report from Le Parisien, Shiny Hunters demanded a ransom from Waltio following the breach, affecting mainly French users. Criminals exploit personal data to target crypto users and their relatives, engaging in “wrench attacks” to force victims to transfer their digital assets. Such attacks have been reported in France and other countries.

French regulators have warned crypto companies not complying with the MiCA framework, providing a transition period until June 30 to either seek a MiCA license or cease operations in the country. MiCA regulation, approved by EU policymakers, aims to regulate crypto assets and protect investors’ interests.

Read more at Cointelegraph: French Authorities Investigate Data Breach of Crypto Tax Platform