3Commas Disputes Staff Members Stole API Keys

The cryptocurrency trading company 3Commas has disputed that its staff stole consumers’ API keys, alleging that screenshots making the rounds on social media are phony, and has urged those impacted to contact the authorities to prevent the thieves from stealing their money.

A fake screenshot of a Cloudflare log is making the rounds on Twitter and YouTube, according to 3Commas co-founder and CEO Yuriy Sorokin, who wrote about it in a blog post on December 11. He claimed that this is done “in an effort to convince people that there was a vulnerability within 3Commas and that we were irresponsible enough to allow open access to user data and log files.” The allegedly taken screenshots are meant to demonstrate how the 3Commas dashboard on Cloudflare exposed customers’ API keys.

On December 10, Sorokin urged impacted individuals to submit a police report to have their exchange accounts frozen. This was stated in another blog post. “The quicker this is done, the faster exchanges can block the criminals’ accounts to prevent money from being taken and raise the possibility that some, or all, of the money may be returned to victims,” the statement reads.

Users are needed to provide identity information in order to trade or withdraw money because the majority of cryptocurrency exchanges adhere to Know Your Customer regulations. Exchanges would be able to supply investigators with information on affected users’ police reports, the business said.

After he complained about losing money, the cryptocurrency trader known as CoinMamba on Twitter had his Binance account deleted. A 3Commas account was connected to the stolen API key.

Binance and 3Commas each deny being at fault for the situation

According to 3Commas, phishing attack evidence has been discovered as a “contributory factor” in thefts. The organization claims that malicious actors began phishing assaults in October and experimented with several methods. Thusrokin said:

“Also, we have hard evidence that phishing was at least in some part a contributory factor; we published a blog article here showing many fake 3Commas websites that were created and some are still live on the internet, despite our best efforts to have them taken down.”

Exchange API connections older than 90 days are being disabled by the company.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Annie

Coincu News