This week in crypto, for the last time in 2022, we’ve seen 3Commas finally admit that it is the source of a huge API breach, the Mango Markets manipulator arrested, and an NFT creator waking from a five month coma to log into his FTX account…
No. 3 – 3Commas CEO Finally Admits API Breach
The CEO of trading protocol 3Commas finally admitted this week that hundreds of thousands of stolen user APIs came from his company and not from exchanges. Yuriy Sorokin had blamed exchanges and users themselves for being sloppy in their security practices, when the users were saying that 3Commas was the common denominator.
After three weeks of denial, Sorokin was this week forced to admit that 3Commas was the source after the hackers posted over 100,000 APIs, claiming that it won’t use the APID to steal funds but will instead use it as a warning for others not to use 3Commas.
Not all publicity is good publicity, eh Yuriy?
No. 2 – NFT Creator Learns of FTX Collapse After Five-month Coma
We shouldn’t laugh, we really shouldn’t, but it’s too good – the owner of the Twitter account belonging to NFT project Little Shapes this week learned about the collapse of FTX after waking from a five-month coma.
The unnamed individual posted about the accident that he suffered back in July, saying that he was now awake and leaving hospital and ready to continue working on Little Shapes. However, he received something of a shock when he went to log into his FTX account…and learned all about the FTX collapse in one hit.
Oof.
No. 1 – Mango Markets Thief Arrested
Crypto trader Avraham Eisenberg was this week arrested in Puerto Rico and charged with market manipulation and fraud for his involvement in the theft of $110 million worth of various cryptocurrencies from decentralized exchange Mango Markets. Eisenberg was arrested on December 26, having previously admitted to the act that he said at the time was legal and said that critics were just jealous of his abilities and the fact they didn’t think of it first.
The FBI filed a complaint against Eisenberg, accusing him of manipulating the value of Mango Markets’ native token, MNGO, in order to artificially inflate its price and secure “massive loans” against the inflated collateral.
