Cryptocurrency exchange FTXwill pay $6 million in compensation to victims of phishing scams.
3Commas According to the determination made by ‘s on October 21, hackers had made unauthorized transactions on the crypto exchange by obtaining the API keys of the users in the said phishing attack. FTX and 3Commas have joined forces, suspending suspicious accounts and deactivating the compromised API keys in an effort to prevent damage following the investigation. FTX announced that it will also pay compensation for its users who are victims of the incident.
FTX Will Give Victims $6M One-Time Compensation
Cryptocurrency exchange FTXtook a step towards a phishing scam that allowed scammers to trade in the accounts of certain FTX users without authorization.
Founder and CEO of FTX Sam Bankman-Fried announced that it will provide approximately $6 million in compensation to its victims. Bankman-Fried also shared that there will be no continuation of this, and that such a practice does not normally exist.
14) But this once, we'll do it; roughly $6m total.
(To be clear, only for FTX accounts! Hopefully other exchanges will comp theirs.)
BUT AGAIN NOT A PRECEDENT, WE WILL NOT GOING FORWARD.
— SBF (@SBF_FTX) October 23, 2022
stating that this is not a precedent Sam Bankman-Fried, Twitter shared that the $ 6 million refund will be made only to the accounts of FTX users.
