Blockfolio Users Targeted With Racist Messages

Cryptocurrency Exchanges News

Around the globe, people have been taught to stand against racism of any form, either online or offline. Despite that, the rate of racist abuse against people, especially through digital means, has not reduced and won’t in the coming years. Even though the crypto market is filled with mostly anonymous traders, crypto exchanges have made sure users submit their details in a bid to tackle fraud and other illegal activities. One of them is blockfolio, a crypto exchange that has been around for a very long time. Going by recent information, it looks like blockfolio’s users have been receiving racist messages in the last few days.

The company condemns the attack

According to a detailed statement that the company released some days back, its servers were accessed Illegally, and the perpetrators could get through to its user base. The crypto exchange noted that after they got the details, they started sending racist messages to all their members. Even though the exchange didn’t mention if the racial abuse was targeted, it noted that the perpetrators threatened the users that got the messages.

One such message said that they would steal the funds belonging to such members unless they withdraw their funds and digital assets and take them to another platform. Even though the security team, with the aid of technicals, got rid of the messages in time, members wondered how the attackers could infiltrate the system of the crypto exchange to send such messages to them.

In the latest tweet made by SBF, it noted that the compromised database and the targeted racist abuse were the work of rival crypto exchange to rid Blockfolio of a huge part of their customer base. In the tweet that was obtained off their handle, they mentioned that after several hours of investigations, they found a lead that pointed them in the right direction regarding where the attack emanated from.

Blockfolio says its security is now tightened

In the recent tweet, the exchange noted that one of their competition was able to trick a member after getting hold of his news feed. Even though the exchange’s CEO condemned such attacks, she has refused to name the culprit while assuring customers that their funds on the crypto exchange are safer than they used to be. “Due to the recent attack, we have implemented measures to make sure security on the platform is tightened, and we can assure our customers that they wouldn’t have to pass through such again,” the CEO said.

Users on the platform, in turn, lauded the efforts of Bankman Fried as he was open enough throughout the incident and updated the members on any new development on time. He further went on to compensate users that their accounts were affected with $10.

Also, Bankman mentioned that he does not condone racism. He has worked over time with so many organizations to rid the entire globe and educate people about the dangers of racism. Despite FTX acquiring Blockfolio back in 2020, this is not the first time the company will have a security scare, with the latest one coming in May 2020.

Leave a Reply

Your email address will not be published.