FTX CEO Sam Bankman-Fried announced yesterday that victims of a phishing campaign linked to the exchange would be compensated. But FTX does not plan to make it a habit.
FTX will compensate victims of a phishing campaign
Sam Bankman-Fried announced this measure in a Twitter thread where he discussed the dangers of phishing campaigns. Specifically, it was a recent attack that caught his attention. Users have seen their accounts used to carry out unauthorized exchanges, by registering on fraudulent sites. In particular, a fake site posing as trading bot provider 3 Commas.
9) They provided their FTX api keys to use the sites’ trading tools. Other users were probably phished through other methods. But one way or another, these users were exploited by third party attackers.
— SBF (@SBF_FTX) October 23, 2022
Users provided their API keys for their FTX account to be used. FTX CEO Recalls that it is the responsibility of the users not to provide access to fraudulent sites, and that trading platforms cannot do much at their level when this type of attack occurs.
But this time, FTX made the choice to pay compensation to affected users. It will amount to $6 million.. Sam Bankman-Fried clarifies that these are only FTX users, and invites other platforms to do the same.
👉 To go further – Bitcoin and cryptocurrency scams: how to protect yourself?
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Not a habit to take
The CEO stresses, however, that this is an unusual gesture, which should not be seen as a precedent. FTX will not compensate phishing victims in the future:
13) But in this particular case, we will compensate the affected users.
THIS IS A ONE-TIME THING AND WE WILL NOT DO THIS GOING FORWARD.
THIS IS NOT A PREVIOUS.
We will not making a habit of compensating for uses getting phished by fake versions of other companies!
— SBF (@SBF_FTX) October 23, 2022
The CEO of FTX has recently come under fire after posting a strongly supportive opinion on strong regulation of the decentralized finance (DeFi) ecosystem. This news should therefore be received more favorably by FTX users.
👉 Also discover – FTX Reviews and Tutorials (2022): the most promising crypto trading platform?
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