Razer Launches Investigation into Potential Hack on Razer Gold Digital Wallet

Customers’ security and privacy are a top priority as Razer takes necessary steps to secure its platforms.

Gaming hardware company Razer is currently conducting an extensive investigation into a potential security breach that has affected its popular digital wallet, Razer Gold. The digital wallet is widely used by customers to purchase games and in-game content. The company’s spokesperson announced the investigation on Monday (Jul 10) and assured customers that all necessary steps have been taken to secure their platforms.

While the exact number of affected accounts or users has not been disclosed, Razer’s spokesperson confirmed that the breach was discovered on Sunday, prompting an immediate review of all Razer websites. The company is committed to prioritizing the digital safety and security of its customers and will report the matter to the relevant authorities once the investigation is complete.

The potential hack was brought to light through a Twitter post by FalconFeeds.io, a well-known threat intelligence platform. The post revealed that a seller, operating under the username “Nationalist,” advertised the sale of various sensitive data related to Razer and its products in a hackers’ forum. The stolen data allegedly includes source codes, encryption keys, database access, and backend logins. The seller initially requested a sum of US$100,000 in Monero, a cryptocurrency known for its privacy features and decentralization. However, the seller also expressed openness to lower offers.

It’s worth noting that Monero’s privacy features have attracted the attention of cybercriminals in the past, leading to the delisting of privacy coins by certain exchanges globally. Several countries, including South Korea and Australia, took action to remove Monero from their platforms due to concerns over its potential misuse.

Razer, co-founded by Singaporean entrepreneur Tan Min-Liang, maintains headquarters in Singapore as well as California. This incident follows a cybersecurity breach the company experienced three years ago, which resulted in the leakage of personal information belonging to approximately 100,000 customers. Last year, Razer was awarded US$6.5 million in damages for loss of profit after suing its IT vendor Capgemini, which is currently appealing the decision. The appeal was recently heard in a Singapore court.

During the court proceedings, Capgemini’s lawyers argued that Razer had not taken appropriate action despite repeated warnings from security researcher Bob Diachenko over a three-week period. Capgemini, accepting liability, seeks nominal damages for the breach caused by its former employee.

Razer’s ongoing investigation underscores the company’s dedication to ensuring the security and privacy of its customers’ digital assets. As the investigation progresses, Razer will continue to provide updates and take necessary actions to mitigate any potential risks stemming from the breach.