3Commas Crypto Trading Bot Platform Leak
Trading bots are software created using trading robots that function to make trades automatically. Trading bots were created to read trading signs and execute trades. With the initial settings set by the user, the bot will run according to our wishes.
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3Commas is a smart crypto trading platform that uses automated bots to generate trades Founded in 2017. This platform has been widely used by traders to make profits in cryptocurrency trading. 3Commas connects their platform to exchanges like Binance for their bot on crypto exchanges. Users can set their own trade size, the size of taking profits / losses.
3Commas CEO Statement
- The 3Commas team looked at the hacker’s message and confirmed that the data in the file was correct. 3Commas requests that Binance, Kucoin, and other supported exchanges revoke all keys connected to 3Commas.
- The 3Commas team suspects that the hack was carried out by an insider but according to them this is not proven
- Since the incident, 3Commas has implemented new security measures and launched a full investigation in which law enforcement will be involved.
Will there be a refund due to 3Commas’ negligence ?
Other statements
The CEO of Binance (Changpeng Zhao) himself said that there was a widespread leak of API keys
The API key itself is a unique code that functions to provide login access and connect code from one developer to another.
This API key leak case had previously occurred last November on the Skyrex and 3Commas platforms.
Actually this API key leak can occur if:
- Team 3commas has a security problem and the key is leaked
- Insider Team 3commas is involved
It is unlikely that many of these cases occurred due to phishing. The 3Commas API key leak has been exposed to the public
Are you a 3Commas user ? Has your 3Commas account experienced a similar incident ?
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