Dave - Cryptocurrency Enthusiast
The cryptocurrency exchange platform FTX has agreed to give its affected account holders $6 million in compensation after a phishing incident occurred via a third-party website.
The FTX CEO Sam Bankman-Fried issued the following official declaration on Twitter:
Bankman-Fried highlighted that this was a one-time decision and that it will not become "a habit" to compensate victims of phishing attacks on websites other than FTX.
In related news, the trade crypto bot provider 3Commas issued a security alert after discovering instances of unlicensed purchases of DMG coin pairings on the FTX exchange using certain API credentials. Recently, some crypto traders suffered huge losses as a result of hackers stealing millions of dollars in digital assets from their FTX accounts by misusing an API linked to the trading accounts.
In addition, numerous 3Commas-connected FTX users who received notification that their API is "invalid" or "requires upgrading" must generate new API keys. In response to this, 3Commas stated, "It is probable that your API details were hacked, and FTX has destroyed the API key."
According to preliminary investigations, fraudulent websites impersonating 3Commas were used to collect API keys when users linked their FTX accounts. Later, the illegal DMG trades were carried out with the use of the FTX API keys. To underline and clarify, there has been no compromise of either 3Commas account security databases or API credentials, according to the 3Commas staff. This is an issue that has affected several users who have never been 3Commas clients, therefore there is no way that it is a leak of API keys from 3Commas.
Following the incident, FTX and 3Commas identified suspect accounts based on user behavior and suspended the API keys to prevent further losses.
It is crucial to find a top crypto broker, who can also take extra safety steps to prevent your assets from being stolen. We suggest visiting BCBitcoin – an acknowledged crypto broker whom you can trust for safety of your transactions or crypto assets overall, with a hardworking team which is available 7 days per week.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards