3Commas Enhances Internal Security

3Commas Enhances Internal Security Measures Following Compromised User Accounts and Password Resets

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Leading provider of automated cryptocurrency trading services, 3Commas, has issued a warning to its community members regarding potential cyber threats to their accounts. The platform recently made changes to its existing security system after several users reported unauthorized trades being executed from their accounts. This served as a strong indication that the platform could be under attack from cryptocurrency hackers. As a precautionary measure, the passwords of the affected accounts were reset, which further solidified the assumption of a potential hack attack.

Established in 2017, 3Commas is a cloud-based cryptocurrency trading platform that allows users to utilize trading bots to stay ahead in the market. These bots make informed trade-related decisions based on real-time market statistics. With a community of over 100,000 entities, the platform has received excellent feedback from its users.

Upon conducting an internal investigation, 3Commas confirmed that only a small number of user accounts were affected by the hack, ensuring the continued safety and functionality of its operations on a larger scale.

In light of this incident, the platform strongly urges all users to enable two-factor authentication (2FA) as an added layer of security.

3Commas has assured its users that no API secret data or account passwords were accessed during the security breach. The Estonia-based company responded promptly to the reported incidents and swiftly implemented the necessary measures to address the situation.

In an official statement, 3Commas outlined the security changes that have been implemented within its system as a result of this incident. Password resets now trigger the disabling of all API connections, providing an additional level of security. The platform assures users that, despite these security enhancements, its services continue to operate normally. The company remains in a state of heightened alertness to ensure the ongoing protection of user accounts.

At present, specific details regarding any financial loss or relocation resulting from the attack have not been disclosed.

Unfortunately, this is not the first time that user accounts on 3Commas have fallen victim to cyber hacking. The platform has experienced previous breaches conducted by notorious cybercriminals.

As 3Commas continues to prioritize the safety of its users’ accounts, it encourages everyone to remain vigilant and proactive in their account-related notifications. By staying informed and taking necessary security measures, 3Commas aims to maintain the trust and confidence of its community.

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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it