The cryptocurrency sector, which thrives in some parts of the world, has been hit by a number of hacks and scams this year. Even a few days before the industrially tumultuous 2022 ends, crypto crime news and warnings have hit the headlines. This week, the private API keys of about 1,000,000 crypto users were leaked to the public domains. The victims were all users of 3Commas, an Estonia-based cryptocurrency trading service. The incident has put additional strain on the already rattled crypto sector, which has plummeted in valuation to a yearly low of $795 billion (approximately Rs 65,87,830).
3Commas allows users to set up an automated feature for bots to start trading on third-party exchanges like exchanges, Coinbaseand KuCoin on behalf of the user.
As confirmed by 3Commas, an anonymous hacker has been active since October. report resulted in the loss of users’ funds up to $12 million (approximately Rs 100) through consentless transactions. These transactions are processed through 3Commas on exchanges like Binance and Coinbase.
Previously, the company was investigating whether these unverified transactions were triggered by phishing attacks.
1. Statement from 3Commas:
We have seen the hacker’s message and can confirm that the data in the files is correct. As an immediate action, we have asked Binance, Kucoin and other supported exchanges to revoke all keys connected to 3Commas.
– Yuriy Sorokin (@YS_3Commas) December 28, 2022
Several members of the crypto community, including the CEO of Binance Changpeng ZhaoShare safety awareness and recommendations to others.
I’m pretty sure there are multiple API key leaks from 3Commas. If you ever set an API key in 3Commas (from any exchange), please disable it immediately.
Stay #SAFU.
— CZ :large_orange_diamond: Binance (@cz_binance) December 28, 2022
My strong recommendation to all @3commas_io leak victim is to hire a lawyer as soon as possible
Link to the leak belowhttps://t.co/QRstmpwumF
The best-documented lawsuits will win and you will have a chance to be compensated
— Dyma Budorin :flag-ua: (@buda_kyiv) December 28, 2022
The incident took place in the context of Crypto crime gaining more and more speed all over the world.
WE’ Federal Bureau of Investigation (FBI) warned crypto investors there about a new scam technique going on — called ‘pork dissection’. In these cases, the scammers make potential victims move their investments to electronic money. Once they digital wallet ‘fattening’, these scammers hack and steal money.
“Be very careful when you go to social media and dating apps and someone starts to develop a relationship with you and wants you to start investing. Don’t Get Butchered,” Bitcoin.com quote Frank Fisher, a public relations specialist at the FBI’s Albuquerque division, said.
Back in November, the authorities in the United States report claims to have identified and seized seven domains exploited in the pig slaughter scams.
In a recent report, string analysis claims that October is the worst month in terms of Crypto-related crimes. The crypto sector has lost over $718 million (approximately Rs 5,890 crore) due to such crimes.
Consecutive attacks on digital asset sector contributed a lot to how the market reached its current low valuation of $795 billion (approximately Rs 65,87,830).
glass button, in its latest report, stated that most of the Bitcoin holders have moved their holdings to self-managed crypto wallets. Glassnode has estimated that around 550,000 Bitcoins worth $9.2 billion (approximately Rs 76,760) have left crypto exchanges.
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