Cryptocurrency [loss] $6M+

Tweets by Wu Blockchain

2022-10-22 [vendor] 3Commas [chain] bitcoin
Primary Source ↗
Financial Loss $6.0M (6,000,000 USD)
Blockchain(s) Bitcoin

Incident Details

Several users of the automated trading bot 3Commas reported losing over a million dollars each in a hack or phishing scam affecting users who had connected it to their FTX accounts. 3Commas has blamed the losses on phishing, but affected users have said they were confident they were not phished.One user wrote they lost almost 104 BTC (~$2 million) from an account that they said they only ever connected to FTX a year ago, with an API key they had not saved, and which had since expired and been downgraded to a free account. Another reported losing about $1.5 million.FTX CEO Sam Bankman-Fried wrote on Twitter that FTX would compensate the affected users for roughly $6 million in total. He wrote in all caps that he did not want this to be considered a precedent, and it was “a one-time thing”. He also stressed that FTX was not responsible for the exploit, and that the users had been tricked by phishing sites impersonating other reputable trading services.

Total loss estimated at $6,000,000.

Technical Details

Initial Attack Vector
Phishing attack
Vendor / Product
3Commas

Timeline

  1. 2022-10-22 Breach occurred
  2. 2022-10-22 Publicly disclosed