Users of crypto derivative platform BitMEX are being urged to update their accounts after thousands of email addresses were mistakenly shared in a mass email.
BitMEX posted an alert on Twitter and on its website that some of its users had received an update containing the email addresses of fellow users.
It emerged that the mishap was a result of users' email address being Cc'd into the update, as opposed to Bcc'd.
Ray Walsh, data privacy expert at ProPrivacy.com, has said: "The email addresses, which were inadvertently disseminated by BitMEX, have already started making the rounds on Twitter meaning that consumers need to act quickly to ensure that any sensitive accounts using those addresses are sufficiently shored up."
BitMEX subsequently stated that it had identified the root cause, advising users to be aware of phishing attempts and recommended reviewing their security details with strong and unique passwords.
Walsh echoed this, also pointing to 2FA as an additional means of security which users should have in place where possible.
While a breach of this nature could feasibly occur to users of any website or platform, the potential danger is heightened when it comes to crypto assets given the lack of robust regulation protecting customers.
With this in mind, commentators are recommending that users of BitMEX update their email addresses on any other sites they use as well.
"Anybody who uses their email address to access cryptocurrency funds and apps is strongly recommended to update their accounts by changing their email at once," Walsh says.
"Failure to do so could result in those accounts being subjected to brute force attacks in order to attempt to break into those accounts to steal crypto assets from those users."
BiMEX hacking groups have already sprung up on the Web.