3 commas hack - Hack cryptocurrency industry

There have been several instances of hacking in the technology and cryptocurrency industries.

3 commas hack - Hack cryptocurrency industry

One such incident occurred on November 14th, 2022, when the founder of Binance, CZ, tweeted that API keys from third-party trading platforms like 3Commas and Skyrex had been used for unexpected trading

3 commas hack - Hack cryptocurrency industry

suggesting that these platforms may have been compromised. 3Commas denied these allegations and suggested that users may have fallen victim to a phishing attack.

3 commas hack - Hack cryptocurrency industry

They also launched a campaign to raise awareness and educate users. Anyone who has used the 3Commas platform to trade on any of the crypto exchanges supported by 3Commas is potentially impacted.

3 commas hack - Hack cryptocurrency industry

The exact date of the hack of the 3Commas database is unclear, so it is recommended that anyone who connected to any exchange through API on 3Commas before December 29th, 2022, 

3 commas hack - Hack cryptocurrency industry

consider themselves potentially impacted. Even if you have not given permission for withdrawals, you may still be impacted.

3 commas hack - Hack cryptocurrency industry

The hacker may not be able to withdraw funds from your exchange account, but they may trade your cryptocurrencies for small-cap coins

3 commas hack - Hack cryptocurrency industry

and then sell those coins to make a profit, causing the price to drop. 

3 commas hack - Hack cryptocurrency industry

If you have used or are currently using 3Commas, it is recommended that you take the necessary precautions as outlined below.