FTX Exchange Users Lose Millions in Exploit – Here’s What You Need to Know
Source: AdobeStock / Rafael Henrique Users of the popular crypto exchange FTX have lost millions of dollars to a phishing exploit using a fake version of a website belonging to the trading platform 3Commas. However, FTX has promised to make their users whole again. The phishing exploit was first reported by Chinese crypto journalist Colin Wu, who runs the popular Wu Blockchain Twitter account, saying that one user found that his FTX account had been trading on its own via a third-party API connection. “[the] API was trading DMG more than 5,000 times, stealing nearly $1.6 million such as BTC, ETH, FTT, etc. from his account,” the Twitter account explained. The trades reportedly took place on the third-part trading platform 3Commas, and were sent to FTX via an API connection – a common technology used to have different online platforms communicate with each other. According to the Twitter account, FTX has admitted that the 3Commas API key has been l...