Customers of a number of prominent UK banks were unexpectedly offered a blockchain experience today after a glitch in their banking app exposed their transactions and accounts.
The technical issue allowed Lloyds, Halifax and Bank of Scotland customers to view other users’ bank transactions.
Some people report being able to see claim notifications from other people’s accounts, while others report being able to view someone else’s National Insurance number.
For 20 minutes, some users were able to view other users’ accounts, and one person was able to view benefit payments from the Department for Work and Pensions, the BBC reported.
Read more: UK government committee calls for halt to crypto donations amid concerns of foreign interference
One user claimed: “You can see other people’s bank accounts and they received £6,000 yesterday. Others can see their benefit payments, their National Insurance number, their place of employment and almost everything about their identity.”
The issue has reportedly been fixed and an investigation has begun, but it’s unclear how many people were affected by the glitch.
Lloyds apologized for the incident, but Bank of Scotland said a “technical glitch” may have been the cause.
Last year, the UK suffered a major banking outage, leaving thousands of people without access to their accounts. A subsequent Treasury Board report found that the country had suffered one month’s worth of power outages over the past two years.
Glitch brings UK banks closest to blockchain
The issue briefly gave the UK banking industry, which is notoriously slow to adopt blockchain technology, a taste of blockchain.
In fact, many still classify cryptocurrencies as risky and volatile assets that require enhanced checks.
Digital cryptocurrency-friendly bank Revolut has just received a UK banking license after a four-year wait for permission.
However, the company’s crypto services are reportedly not covered by this banking license and must continue to be offered through the Revolut X platform.
Last September, the UK and US teamed up to launch a regulatory body to harmonize each country’s approach to cryptocurrencies and give companies easier access to each country’s capital markets.
However, Reuters reports that both the US and UK remain divided on cryptocurrency regulation, with the UK taking a more cautious approach.
The US was reportedly unimpressed with the UK’s “sandbox” approach, where tokenized securities are tested in a controlled environment.
