3Commas Admits Responsibility for API Keys Leak

3Commas API Keys Leak: A Costly Security Breach

Yuriy Sorokin, co-founder and CEO of 3Commas, has confirmed that the crypto trading platform is responsible for a significant security breach. This admission comes after an API keys leak led to the theft of $22 million worth of cryptocurrency from users' accounts. Initially, 3Commas denied responsibility, attributing the issue to user error. However, after further investigation, Sorokin acknowledged that the company's security lapse was to blame.

Community Outrage and Calls for Action

The crypto community has expressed strong dissatisfaction with 3Commas, as many users felt misled by the company's initial denial. Influential figures within the community criticized 3Commas for failing to accept responsibility sooner, which might have prevented further losses. Victims of the leak have been vocal about their demands for refunds and apologies, with some even suggesting that the platform should be shut down.

Immediate Security Measures

In response to the breach, 3Commas has urged major exchanges like Binance and Kucoin to revoke all API keys connected to its platform. This action aims to prevent additional unauthorized access and safeguard user funds. Despite these efforts, some API keys remain active, posing an ongoing risk to users.

Importance of User Vigilance

The incident underscores the critical need for robust security practices in the crypto industry. It serves as a reminder for users to be cautious when sharing API keys and to regularly update their security credentials. As the crypto landscape evolves, maintaining trust through transparency and responsibility becomes increasingly crucial.

By addressing the breach and implementing corrective measures, 3Commas seeks to restore user confidence and prevent future incidents.