Brinztech Alert: CATASTROPHIC: Crypto Exchange “MGBX” Breached; 96k User Login and “Withdrawal” Passwords Leaked for Free

Dark Web News Analysis

The dark web news reports a catastrophic, exchange-ending data breach from MGBX (formerly Megabit), a global centralized cryptocurrency exchange. The attacker has leaked the “full user database” for free on a hacker forum, ensuring instant, widespread distribution to all threat actors.

The breach, which allegedly occurred in November 2025 (i.e., this month, indicating an active, recent compromise), affects 96,000 users.

This is not a simple PII breach; it is a “bank vault” breach. The leaked data contains the “golden keys” for direct, irreversible financial theft:

• Full PII (User IDs, Phone Numbers, Email Addresses).
• login passwords (!!!)
• money (withdrawal) passwords (!!!!!!)
• Google Authenticator status (An attacker “hit list”).
• KYC levels (Confirms the PII is real and verified).

Key Cybersecurity Insights

This is a high-severity, “Code Red,” exchange-insolvency event. The threat is not if funds will be stolen, but how fast. The funds are being stolen right now.

1. CATASTROPHIC: “Mass Automated Theft” (The money password): This is the #1, “game over” threat. The leak of both the login passwordand the separate money (withdrawal) password is the worst-case scenario for an exchange.
   • The Attack: Attackers (and their bots) will immediately parse the leak, log in as all 96k users, and use the money password to automatically drain 100% of the funds from every single account.
   • The Result: This is an extinction-level event for MGBX. The exchange will be declared insolvent, as all user funds are now stolen.
2. “The Attacker’s ‘Hit List'” (The GA status): This is the most critical force multiplier for the attacker. They don’t have to guess who is secure. They will immediately sort the database:
   • WHERE GA_Status = 'false': These accounts (without 2FA) will be drained first, automatically, in seconds.
   • WHERE GA_Status = 'true': These accounts are the second target. The attacker has the user’s Email + Phone Number + KYC Status. They will immediately begin SIM-swap attacks and hyper-targeted vishing scams to steal the 2FA code.
   • The Vishing Scam: “Hello [Name], this is MGBX security. Your account is being drained. To lock your funds, please read the 6-digit Google Authenticator code on your phone…” (The attacker uses this code to drain the account themselves).
3. IMMEDIATE Risk 3: Mass Credential Stuffing: (As noted). This is the secondary financial threat. The (email/phone + login password) list for 96k crypto users will be immediately used in automated attacks against every other crypto exchange (e.g., Binance, Coinbase, Kraken). Attackers will drain the MGBX users’ accounts on other platforms where they reused their password.

Mitigation Strategies

This is a “pull the plug” financial emergency.

For MGBX (The Company):

• MANDATORY (Priority 1): HALT ALL TRADING & WITHDRAWALS. NOW. This is the “kill switch.” This is the only way to (potentially) stop the mass, automated theft that is happening right now. The platform must be taken offline immediately.
• MANDATORY (Priority 2): Invalidate ALL Sessions & Passwords: (As suggested). After the platform is offline, invalidate every active session and force a password reset (for both login and money passwords) for all 96,000 users.
• MANDATORY (Priority 3): Force MFA Re-enrollment: Invalidate all Google Authenticator bindings. Force all users to re-enroll 2FA. This is the only way to neutralize the vishing/SIM-swap threat.
• MANDATORY: Notify Regulators & Prepare for Insolvency: This is a catastrophic failure. The company must immediately report this to all relevant financial regulators.

For Affected Users (Victims):

• CRITICAL (Priority 1): Change Reused Passwords NOW! Your MGBX funds are likely gone. The most urgent threat is your other accounts. If you reused your MGBX password on any other exchange, bank, or email account, that account is now compromised. Go and change those passwords immediately.
• CRITICAL (Priority 2): Phishing/Vishing Alert: TRUST NO ONE. (As suggested). Assume all calls, texts, or emails from “MGBX” are SCAMS trying to steal your 2FA codes or “rescue” funds. HANG UP.
• (If MGBX platform is still online): Attempt to log in immediately (if the attacker hasn’t already) and withdraw all funds to a private wallet.

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Questions or Feedback? This analysis is based on threat intelligence from a dark web forum. A breach of a crypto exchange, involving the free leak of both login and withdrawal passwords, is a catastrophic, insolvency-level event. Brinztech provides cybersecurity services worldwide and do not endorse or guarantee the accuracy of external claims. For any inquiries or to report this post, please email: contact@brinztech.com