Binance cautions users regarding API key leaks from 3Commas

The CEO of Binance, Changpeng Zhao, has cautioned everyone concerned regarding relevant information that he has supposedly received about there being a major issue with API key leaks. According to him, this is the result of the Trading-Bot platform 3Commas. 

This observation, however, lends credence to the fact that there was a similar sort of speculation doing the rounds sometime in the month of October, especially on social media. Therefore, in his opinion, this time around, one should not take the matter lightly.

Through a formal statement issued to The Block, a reliable spokesperson at 3Commas also took the opportunity to declare the information as real. In his opinion, anyone with an API key in 3Commas should go in and disable it immediately. 

According to him, sometime in the month of October, an investigation was also carried out from their end, and it was discovered that the API keys had been utilized to carry out illegal trades in the case of DMG trading pairs. As a matter of fact, 3Commas had been cautioned about the same. However, he also clarified the fact that the API keys, at that point in time, were not obtained from their company and that a third party was seemingly involved.

This time, however, it was reported that the corporation had access to a message reportedly sent by the alleged hacker and that it appeared to be genuine. They have duly informed Binance, Kucoin, and other connected exchanges of the situation and given them instructions to cancel all of the keys connected to 3Commas in this specific circumstance as an instant preventative move. 

They believe that there is evidence of an inside job at the moment. They can further attest to this reality because, in their estimation, only a few members of the technical team have access of any type. It is imperative that they launch a comprehensive investigation into the situation with the assistance of law enforcement in their next course of action.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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