Cryptocurrency exchange FTX user loses $1.26 million through 3Commas software
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Answer Cryptocurrency exchange FTX user loses $1.26 million through 3Commas software
A cryptocurrency exchange FTX user was shocked to lose $1.26 million after a hacker took advantage of 3Commas software and pulled more than $1 million in cryptocurrency from a private FTX user account.
According to speakAn FTX user discovered that his account, integrated with the 3Commas API, had traded DMM more than 5,000 times, resulting in the loss of nearly $1.6 million of his cryptocurrency, including Bitcoin, Ethereum and FTT.
$1.26 million loss:
3Commas is a trading platform that allows users to create automated trading robots that work on major cryptocurrency exchanges.
The user said he had contacted the FTX trading platform and the platform claimed that the 3Commas API key had been leaked and exploited by hackers.Read:Binance Asia acquires 18% of the shares in the Singapore Stock Exchange “HGX”
Subsequently, the victim filed a police report accusing FTX, but the company reportedly took no further action and provided no response.
The cryptocurrency exchange has also not frozen any funds involved in the case.
Commenting on the incident, 3Commas indicated that its security systems were tight and there were no leaks on its part.
Currently, the cause of the crash is still unknown at the time of writing, but users are hoping that FTX and 3Commas will take some time to review their security systems to prevent this from happening again.
October is the month of breakouts.
The incident was added to the list of hacks that lost millions of dollars in cryptocurrency in October alone.
Hackers stole more than $700 million in cryptocurrency from crypto users and platforms this month.
Some of the most notable attacks include the $600 million Binance blockchain hack, the $100 million Mango exploit, and the $23 million Transit Swap heist.Read:El Salvador responds to IMF advice to stop using Bitcoin
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