After almost two weeks of downtime, Kitco has restored some website services. The restored website displays precious metals news, commentary and analysis, price charts and other information that helps inform investors about commodities and related topics.
The updated website includes some shopping and buying functionality. The message boards and forums, a popular place for investors to discuss precious metals and related topics, is also back online and functioning.
Minimal information regarding the cybersecurity incident has been made public, including whether or not any sensitive customer information was leaked or compromised. If the personal information and or payment information was leaked, it could cause problems for many Kitco customers.
The message that informs customers about the recent outages makes no mention of the Cybersecurity incident.
“We recognize the importance of uninterrupted access to our financial news, charts, and data, and apologize for the recent outages. Our team is diligently working to restore and stabilize all website functions, including these essential features. We deeply value your patience and commitment to staying informed with us. Thank you for your continued trust.”
Most online bullion dealers recognize the threats related to doing business on the internet and many take proactive precautionary measures to avoid exposure of customer data.
Cybersecurity incidents in the retail e-commerce precious metals industry are typically rare. In 2020, JM Bullion reported details of a hack where malicious code was installed on their website that led to a significant customer data leak during the beginning of that year.
Kitco was founded in 1977 by Bart Kitner, while he was still a college student as a small business buying and selling scrap gold.
Over the years, Kitco has grown and diversified its services. It has become one of the world’s premier source of live market information, news, and analysis on precious metals. Their website is a go-to resource for investors and enthusiasts seeking up-to-date prices, market insights, and news related to the metals market.
Kitco developed a strong online presence early on, embracing the internet as a tool for providing information and the sale of precious metals products through their e-commerce platform.
Kitco is based in Montreal, Canada with a global reach. In addition to its trading and market information services, Kitco also operates Kitco News, a respected news source providing in-depth coverage, interviews, and reports on metal markets, mining, and the overall global financial scene.