On July 24, 2024, Gemini Trust Company, LLC filed a notice of data breach with the Attorney General of California after discovering that a data security incident at a bank used by Gemini resulted in certain users’ confidential information being exposed. In this notice, Gemini explains that the incident resulted in an unauthorized party being able to access consumers’ sensitive information, which includes their names and bank account information. Upon completing its investigation, Gemini began sending out data breach notification letters to all individuals whose information was affected by the recent data security incident.

If you received a data breach notification from Gemini Trust Company, LLC, it is essential you understand what is at risk and what you can do about it. A data breach lawyer can help you learn more about how to protect yourself from becoming a victim of fraud or identity theft, as well as discuss your legal options following the Gemini Trust Company data breach. For more information, please see our recent piece on the topic here.

What Caused the Gemini Data Breach?

The Gemini Trust Company data breach was only recently announced, and more information is expected in the near future. However, Gemini’s filing with the Attorney General of California provides some important information on what led up to the breach. According to this source, Gemini relies on certain services provided by a third-party bank.

Recently, Gemini’s banking partner, which remains unnamed, notified Gemini that some customer information may have been exposed to unauthorized access. More specifically, an unauthorized actor gained access to an internal collaboration tool on the bank partner’s system. As a result, consumer information was accessible by an unauthorized party between June 3, 2024 and June 7, 2024.

After learning that sensitive consumer data was accessible to an unauthorized party, Gemini Trust Company reviewed the compromised files to determine what information was leaked and which consumers were impacted. While the breached information varies depending on the individual, it may include your name and bank account information.

On July 24, 2024, Gemini Trust Company sent out data breach letters to anyone who was affected by the recent data security incident. These letters should provide victims with a list of what information belonging to them was compromised.

More Information About Gemini Trust Company, LLC

Founded in 2014, Gemini Trust Company, LLC is a cryptocurrency exchange, with a headquarters in New York, New York. Gemini also operates a custodian bank and provides cryptocurrency trading services, derivative trading services, and related services. Gemini also created its own cryptocurrency. Gemini Trust Company employs more than 900 people and generates approximately $189 million in annual revenue.