Blockfolio Identifies who Hacked its System

Yesterday, we reported that Blockfolio suffered a major hack in which some of its users were exposed to offensive racist content that forced the hands of the firm to apologise for the breach of its feed.

The Blockfolio team was quick to apologize for this invasion and also promised to reward traders on its platform with $10 each. The firm’s parent company CEO, Sam Bankman-Fried,  also said he was going to be making donations to the ACLU. At the same time, the firm also said it was going to give updates when it has finished its investigations into the attack.

Bankman-Fried has now offered a new update about the attack tweeting that it was a competing exchange that was responsible for the attack. According to him, “the offensive content was produced and published by a competitor exchange of ours who maliciously gained access to someone else’s Blockfolio News/Signal capabilities.”

He, however, failed to mention who the competitor was and also highlighted the fact that their user funds remained safe despite the attack. Blockfolio has said they would improve on the security infrastructure of the crypto firm and also seek to prevent similar occurrences in the future.

Crypto Community hails Swift Response

Members of the crypto community have hailed Blockfolio’s response to the issue. The Blockfolio team, after identifying the issue swiftly removed the offensive message and worked towards preventing a recurrence.

Sam Bankman-Fried was also hailed for taking charge of the situation and the transparency he showed to the incident. He was also hailed for the reward the firm doled out to traders on the platform and the donations he gave to bodies fighting against social injustice and racism.

Views and opinions expressed are solely those of the author and not of The DeChained or any affiliated party. Views or opinions expressed in this article (or any article on the website) are not financial advice. Articles are for informational purposes only. The author and The DeChained may hold positions in assets discussed in this or other articles.
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