3Commas Addresses Security Breach and Takes Swift Action
Recently, 3Commas, a leading crypto trading bot platform, experienced a security breach that temporarily affected some user accounts. The company promptly released a security notice on October 8 and provided an update on the incident.
After a few users reported unauthorized transactions following password resets, 3Commas initiated an internal investigation and implemented additional security measures. The investigation confirmed the occurrence of a security breach, but it primarily impacted users who hadn’t activated two-factor authentication (2FA). Only a limited number of accounts had their passwords reset, and sensitive data like API or account passwords remained untouched.
To address the situation, 3Commas revamped their password reset procedure and temporarily disabled all API connections after a password reset. They assured users that their services continued without interruption and pledged to remain vigilant during the ongoing investigation.
User Recommendations for Enhanced Account Security
In response to the breach, 3Commas strongly advises users to enable 2FA on their accounts if they haven’t already done so. Additionally, they recommend regularly changing passwords as a best practice for improving account security.
Previous Security Breach Incident
Last December, 3Commas faced backlash for another security breach where an individual obtained 100,000 API keys belonging to users. This resulted in the leakage of 10,000 keys on X platform. The compromised keys were linked to prominent exchanges like KuCoin, Binance, and Coinbase.
Hot Take: Prioritize Account Security in Crypto Trading
Crypto trading platforms like 3Commas must prioritize account security to protect user funds and data. While incidents like security breaches can occur despite preventive measures, it is crucial for users to take advantage of available security features such as 2FA. By enabling 2FA and regularly updating passwords, you can significantly enhance the security of your crypto trading account and minimize the risk of unauthorized access. Stay informed about any security notices or updates from your chosen platform to ensure you are aware of potential risks and necessary actions to safeguard your assets.
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