On February 28, 2025, Transak USA LLC filed a notice of data breach with the Attorney General of Maine after discovering that an unauthorized party was able to access information Transak had stored on a third-party hosting platform. In this notice, Transak explains that the incident resulted in an unauthorized party being able to access consumers’ sensitive information. Upon completing its investigation, Transak 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 Transak USA 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 Transak data breach. For more information, please see our recent piece on the topic here.
What Caused the Transak Data Breach?
The Transak data breach was only recently announced, and more information is expected in the near future. However, Transak’s filing with the Attorney General of Maine provides some important information on what led up to the breach. According to this source, on September 23, 2024, Transak, Inc., Transak USA’s parent company, was contacted by a hacker who claimed to have accessed and acquired confidential information stored on the company’s IT network. Evidently, this information was stored on a server that was hosted by an unnamed third party.
In response, Transak launched an investigation to determine whether the hacker’s claims were true. Through this investigation, Transak confirmed that the hacker obtained an employee’s login credentials, which allowed them to access and acquire the information. The period of unauthorized access was between September 1, 2024 and September 11, 2024.
After learning that sensitive consumer data was accessible to an unauthorized party, Transak reviewed the compromised files to determine what information was leaked and which consumers were impacted.
On February 28, 2025, Transak sent out personalized data breach letters to anyone who was affected by the recent data security incident. While the publicly available data breach letter on the Maine Attorney General’s website doesn’t mention what type of information was leaked, these personalized letters should provide victims with a list of what information belonging to them was compromised.
More Information About Transak
Transak is a financial technology company specializing in fiat-to-crypto payment gateway solutions, enabling transactions between traditional currencies and cryptocurrencies. Headquartered in New York, the company provides developer integration tools that support over 180 crypto assets in more than 160 countries, simplifying KYC, risk monitoring, payment processing, and compliance for Web3 platforms. Founded in 2019, Transak has expanded globally with operations in the USA, UK, Canada, Australia, Poland, India, UAE, and Hong Kong. Transak employs approximately 86 people and generates an estimated $8 million in annual revenue.
