Transak
Last changed 2026-10-27 · Score recalculated — Rescored under Scoring v2, the published formula (avoid.net/scoring): 55 → 64. Problems weighed by who is responsible: incidents the subject suffered −20, concerns that are not fraud −6, problems around the subject, caused by others −0.3; legitimacy credit long-running +10, regulated +5; the penalty for incidents it suffered is capped at 20; 1 section(s) set aside until a failed fact-check is resolved. Version history →
Why this score
| Every page starts at | 65 |
| Concerns that are not fraud | -6 |
| Incidents it suffered (e.g. hacks) | -20 |
| Problems around it, caused by others | -0.3 |
| Long-running | +10 |
| Regulated | +5 |
| Sum | 54 |
- The penalty for incidents it suffered is capped at 20 points.
- 1 section set aside: the claims did not hold up in a fact-check, pending correction.
Score: 64/100 (kept between 0 and 100)
How scoring works →Summary
Transak is a fiat-to-crypto on-ramp infrastructure provider founded in 2019 and serving over 8 million users across 160+ countries, with integrations into major platforms including MetaMask, Phantom, and Uniswap. In October 2024, a phishing attack on an employee's laptop led to unauthorized access to a third-party KYC vendor's dashboard, exposing the personal identity documents of approximately 92,554 users globally, including names, dates of birth, government-issued IDs, and selfie photos. The breach resulted in a $601,000 class action settlement covering U.S.-based affected users, and the Stormous ransomware group claimed responsibility, alleging extraction of over 300GB of data.
Connected Entities
5 entities · 60 linked investigations- Phantom Wallet→mentioned with→ZachXBT(60%)
- Transak→mentioned with→Tether(60%)
- Transak→mentioned with→Phantom Wallet(65%)
- Transak→mentioned with→ZachXBT(70%)
- Transak→mentioned with→Uniswap(65%)
Timeline(11 events)
7 March 2024
Transak announced SOC 2 Type 2 compliance certification, claiming to be the first crypto on-ramp provider to achieve this standard.
Transak Official Blog23 September 2024
Transak was first contacted by a hacker claiming to have accessed confidential data from its network (per U.S. class action filing).
ClassAction.org20 October 2024
Reported date of the phishing-enabled breach of a Transak employee's laptop and subsequent access to a third-party KYC vendor's dashboard.
RedPacket Security / CryptoNews21 October 2024
Transak publicly disclosed the data breach via its official blog, confirming 92,554 users were affected. CEO Sami Start issued public statements.
CoinDesk21 October 2024
ZachXBT flagged the Transak ransomware incident, highlighting the discrepancy between Transak's characterization and the attackers' claims.
ChainCatcher31 October 2024
Stormous ransomware group published a leak page for Transak, claiming extraction of 300GB+ of data and releasing a subset publicly.
RedPacket Security11 March 2025
Plaintiff Shane Pearson filed a class action lawsuit against Transak USA LLC in the Southern District of Florida (Case No. 1:25-cv-21146), alleging failure to adequately protect user data and delayed breach notification.
Bloomberg Law7 September 2025
The Pearson v. Transak USA class action received preliminary court approval for a $601,000 settlement covering 23,113 U.S.-based affected individuals.
ClassAction.orgDecember 2025
Claim submission deadline for affected U.S. class members in the Transak USA settlement.
ClassAction.org15 December 2025
Final approval hearing scheduled for the Transak USA class action settlement.
ClassAction.orgDecision Log
- slot 461963365 · hash 3cGqaz6ce2jJcKHD3Qk25sfgBzTmQ36d7gfsSHu5mx1f
- slot 445507959 · hash 4CXoExiEe4k7LdNknKkBcViS1dZQfyd1HhsUA4QfuGjB
- slot 425402975 · hash Captkup6tF2FbZMAWksq6Tj1vFyqUsQFoT4QS9Vy6mVR
- slot 425402971 · hash Ho1mMV7zRQouXrYD53QfD5RwhwJbFBY5bCj1VgHHX4rv
- slot 420806332 · hash FKCS3ek6gxwnGqQQ6hynNrJqiEFPQ71GwwhdDenTLWQ1
This investigation is cryptographically anchored to the Solana blockchain (5 decisions).
model: claude-sonnet
generated: 5/4/2026, 4:05:00 PM
last updated: 10/27/2026, 6:03:44 AM
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