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Thursday, February 9, 2023

3Commas denies the theft of API keys By Staff

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

A fraudulent screenshot of a Cloudflare log is making the rounds on Twitter and YouTube, according to Yuriy Sorokin, CEO, and co-founder of 3Commas, who wrote about it in a blog post on December 11. He claimed that this was done in an effort to persuade people that there was frailty within 3Commas and that they were reckless in allowing public access to user information and system logs. The purportedly taken screenshots are meant to demonstrate how the firm’s dashboard on Cloudflare revealed customers’ API keys.

3Commas Account Linked In The API Keys Complaint

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On December 10, Sorokin urged impacted individuals to submit a report to the police to have their exchange accounts restricted. This was stated in another blog post. Additionally, it was mentioned that the quicker it is carried out, the quicker exchanges can restrict the criminals’ accounts to prevent money from being taken and raise the possibility that money will be refunded to victims.

Users needed to yield identification information to withdraw money or trade because most cryptocurrency exchanges adhere to “Know Your Customer” regulations. Transactions would be able to provide investigators with information on affected users’ police reports, the company said.

A cryptocurrency trader referred to by the Twitter handle “CoinMamba” got his Binance profile canceled after complaining about missing funds, according to Cointelegraph. A 3Commas handle was connected to the stolen API key. 3Commas and Binance each deny being at fault for the situation.

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