23 April, 2024

Binance API Has Been Hacked; CZ Works to Uncovers What Happened

14 Nov, 2022

22 Nov, 2023

Attackers operating from third-party platforms, such as 3Commas, have been taking advantage of the API keys of users who are registered on FTX and Binance. Following the theft of 6 million FTX tokens the previous month, the cryptocurrency exchange Binance had a similar issue. 

CZ said in a statement that they have encountered at least three incidents of customers who supplied their API key with third party platforms (Skyrex and 3commas), and those individuals saw unexpected trading on their accounts as a result. 

The message was posted on Twitter. He went on to say that he strongly advises any customers who have previously used such a site to remove their API credentials from their accounts for the sake of safety. Soon after that, CZ provided an explanation, which was validated by the user Carlos, who came dangerously close to losing his cash.

Carlos verified that the unacknowledged orders occurred as a result of his API key being compromised. The one and only active API key that he has was deployed on Skyrex, a platform for cryptocurrency trading bots. CZ said that Binance would make an effort to deactivate any API keys that were used by Skyrex and is now working to determine how to locate them.

In order to prevent the leak from becoming even more serious, CZ has issued a statement stating that they would revoke all API keys used by Skyrex even if its users do nothing to help. According to the reports, just one account was compromised by the hackers, but it is unclear whether or not they were successful in gaining access to the money of other important users.



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