Paz Halts Bitcoin Purchases Through Partnership With Crypto Exchange
Paz, an Israeli financial services app, has suspended its partnership with Bits of Gold, a cryptocurrency exchange, due to a recent cyber incident. The move follows a data breach at Bits of Gold in which customer information, including names and ID numbers, was allegedly stolen.
The breach is believed to be part of a larger global hack targeting the Meta Base software company, which Bits of Gold relies on. An estimated hundreds of companies worldwide are thought to have been affected, but none other than Bits of Gold in Israel have been confirmed as victims.
Paz stated that there is no risk of Yellow users' data being compromised, but has chosen to freeze the option to buy Bitcoin through its partnership with Bits of Gold until the investigation concludes. The collaboration allows Yellow app users to convert their accumulated points into a Bitcoin purchase.