In the weekend, several users of the FTX crypto exchange have reported major thefts from their trading accountswith some citing the possibility of a security breach involving the API keys for the 3Commas auto-trading platform.
On Twitter, a trader reported having $1.5 million worth of Bitcoin (BTC) and other cryptocurrencies stolen!
Another trader reportedly lost 104 BTC.
Hi Ftx, My name is Bruce and I am one of the victims of the 3Commas API exploit on FTX. I lost about 1.5 million USD in the attack (counting the market value of BTC). It happened on the 21st Beijing time. pic.twitter.com/sttAJnoRAU
—desertpower (@littlesand2) 22 October 2022
A still very vague affair, with FTX and 3Commas denying any technical fault and citing the implication of fake websites which allowed hackers to deceive their victims via phishing techniques (phishing) aimed at recovering important information such as passwords or API keys.
One of the victims of these crypto thefts declared that FTX had been aware of serious problems since October 19, yet was subjected to a theft two days later.
That 3Comma’s cryptobots disclaim liabilityindicating that some victims at FTX did not have an account on the auto trading platform.
3Commas requires the use of API keys, some of which would therefore have been compromised via fake 3Commas sites that users have joined thinking they are on the real site of the crypto robot platform.
On its blog, 3Commas published a summary of issues that have affected some of its customers.
As a precaution, FTX and 3Commas have identified accounts that may be involved in suspicious activity and have disabled API keys that may have been compromised.
Faced with this confusing situation, FTX CEO Sam Bankman-Fried decided to compensate FTX customers who were victims of these thefts as a result of phishing scams according to him.
A compensation that will amount to 6 million dollars, states the CEO of FTX.
In his tweets, the CEO of FTX insists that this compensation is exceptional and will not happen again in the future.
Reminds readers to be extremely vigilant about the proliferation of fake websites and increasing phishing attacks targeting cryptocurrency and NFT holders.
“However, in this particular case we will compensate the affected users. THIS IS A SINGLE THING AND WE WILL NOT DO THIS IN THE FUTURE. THIS IS NOT A PRECEDENCE.
We will not make it a habit to offset usage phished by fake versions from other companies. But this time we will; about $6 million in total. (To be clear, only for FTX accounts! Hopefully other exchanges are clearing theirs.) BUT STILL NOT A PREVIOUS ONE, WE ARE NOT REFERRING IT.
14) But this time we do it; a total of approximately 6 million dollars.
(To be clear, for FTX accounts only! Hopefully other exchanges will compare theirs.)
BUT AGAIN NOT A PRECEDENCE, WE ARE NOT GOING FORWARD.
— SBF (@SBF_FTX) 23 October 2022
Lucky FTX customers who will therefore review their stolen crypto funds.
October was marked by several large-scale cryptocurrency thefts, with $700 million in crypto assets reportedly stolen this month.
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