Binance Accounts Exploited Due To 3Commas API Key Hack By CoinEdition

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Binance Accounts Exploited Due To 3Commas API Key Hack

Cryptocurrency Dec 11, 2022 04:30AM ET

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Binance Accounts Exploited Due To 3Commas API Key Hack

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3Commas API leak enabled contra trade for a huge number of altcoins on Binance.

3Commas is working with the Binance team for further investigation of the exploitations.

Rodion Longa and CoinMamba report their Binance deposits have been lost.

On December 11, a massive number of altcoins including OM, AMP (OTC:AMLTF), NEXO, POLS, SUN, ARDR, BIFI, XVS, ARK, LOOM, and OSMO were reportedly contra-traded on the leading cryptocurrency exchange, Binance.

The exploitation was caused due to a 3Commas trading bot API key flaw, which is now being investigated by the 3Commas team who is currently working closely with the Binance team. The automated crypto trading bot also shared in a report that existing keys that have not been for over 3 months, will be voided.

In the investigation updates document released by 3Commas, the company addressed the unauthorized trades using hacked API keys on exchanges such as Binance, FTX, and OKX. While they cannot confirm any specifications, 3Commas suspects that the perpetrators gathered the API details over a long period.

The perpetrators waited for the market to slow down and provide a window where many trading pairs were illiquid and easier to manipulate.

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The post Binance Accounts Exploited Due To 3Commas API Key Hack appeared first on Coin Edition.

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Binance Accounts Exploited Due To 3Commas API Key Hack

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