Blockfolio App Security Breach - Signal Submitter Protocols Compromised.

Blockfolio App Security Breach - Signal Submitter Protocols Compromised.

2021-02-09 | Daniel Smith

Blockfolio App Security Breach - Signal Submitter Protocols Compromised.

Some Blockfolio users are receiving shocking messages from the application in what has now been confirmed as a security breach of the platform’s signal feed. The hackers liable for the breach transmitted racist and offensive messages, threatening them to withdraw their funds or risk losing their deposits. While responding to the matter, Blockfolio published a tweet apologizing for the incident while assuring users of the security & safety of their funds. As per Blockfolio, the breach only affected the signal submitter protocols and not the particular trading environment. The platform also promised to credit all trading feature-enable users with $10 USD as well as others who check-in within the week. The FTX CEO Sam Bankman-Fried also narrated the incident via his Twitter account stating that the firm will perform a censoring of Blockfolio’s non-trading protocols. As reported earlier, FTX acquired Blockfolio for $150 Mln earlier in August 2020. Consistent with Bankman-Fried:
“No members of the Blockfolio team wanted this to happen. But we are all liable for our product and will be doing what we need to repair this. I'll even be donating to the ACLU today, as will a variety of other staff members.”
The Blockfolio hack is yet one more example of how non-deposit resources on crypto platforms are also being targeted by malicious hackers. Cryptocurrency exchanges and hardware wallet makers have seen breaches exposing personal user data within recent months. Indeed, with the Ledger data breach, some affected users even received threats of physical harm after their mobile numbers and residential addresses were leaked online.

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