The FBI is currently investigating the 3Commas data breach, which has caused widespread concern among users of the Estonia-based crypto trading service. 3Commas has come under fire for allegedly leaking user data and brushing off warning signs that the platform was not secure. This article will delve into the details of the data breach, the reaction from 3Commas and its users, and the ongoing investigation by the FBI.
What Happened: API Keys Leaked and Funds Disappeared
An anonymous person leaked over 100,000 Binance and KuCoin API keys linked to 3Commas on Thursday. In the months leading up to this event, dozens of 3Commas users reported that the service had traded away their funds on crypto exchanges that they had linked to the platform without their consent.
Initially, 3Commas attributed these reports to phishing attacks and maintained that the platform was safe. However, the leaker of the API database insinuated that someone within the company had sold the 3Commas keys.
3Commas CEO Yuriy Sorokin has denied these allegations and stated that the company's internal investigation found no evidence of employee involvement in the API data attacks. In a statement released on Thursday, Sorokin said, "3Commas stresses that it has found no evidence during the internal investigation that any employee of 3Commas was somehow involved in attacks against the API data."
Victim Group Reports Losses of Over $20 Million
A victim group comprising around 60 3Commas users has reported losses of over $20 million and has reached out to the US Secret Service and other law enforcement agencies for assistance in understanding the disappearance of their funds. The group's leader, Edmundo (Mundy) Pena, told CoinDesk that they have been trying to get to the bottom of the issue for months.
"Since becoming aware of the suspicious activities taking place," Sorokin said in his statement, "we immediately launched an internal investigation. We will continue with the investigation in the light of the new information and also notify law enforcement authorities accordingly."
Reaction from 3Commas Users: Anger and Frustration
Unsurprisingly, the revelation of the 3Commas data breach and the reported losses of user funds have sparked outrage and frustration among 3Commas users. Many have taken to social media and online forums to voice their anger and demand answers from the company.
Some users have accused 3Commas of ignoring warning signs and brushing off reports of suspicious activity on the platform. Others have criticized the company's initial response, in which it attributed the incidents of unauthorized trades to phishing attacks and maintained that the platform was safe.
Many 3Commas users have called for a more thorough and transparent investigation into the matter, and some have even demanded that the company be held accountable for the losses suffered by its users.
FBI Investigation: Two 3Commas Users Contacted
This week, agents from the FBI's Cincinnati Field Office contacted two 3Commas users in connection to the leak of the API keys. The FBI and 3Commas have not yet commented on the matter, and it is unclear at this point what direction the investigation will take.
The 3Commas data breach and the subsequent disappearance of user funds has sparked outrage and concern among the crypto community. 3Commas users have expressed their anger and frustration over the matter, and many are calling for a more thorough and transparent investigation. The FBI's involvement in the case is a promising development, and it remains to be seen what will come of it.
Conclusion
It is worth noting that data breaches and unauthorized trades are unfortunately not uncommon in the world of cryptocurrency. This includes using strong and unique passwords, enabling two-factor authentication, and being cautious of phishing scams. It is also advisable to diversify investments and to use multiple exchanges and wallets to minimize the risk of losing access to all of one's assets in the event of a security breach.
Overall, the 3Commas data breach serves as a reminder of the importance of security in the crypto space, and the need for companies to take appropriate measures to protect their users' data and assets. It is essential that users stay vigilant and take steps to protect their assets, while also holding companies accountable for ensuring the security of their platforms.
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