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Blockfolio Crypto App Hacker Sends Racist Push Notifications to Users

Blockfolio, a popular crypto portfolio tracking app with over 6 million users, was hacked last night. The FTX-owned trading platform was breached by a malicious character who sent push notifications containing offensive racist slurs that appeared to come from the app’s team. The hacker also renamed several coins on the app with racist titles.
Major crypto portfolio tracking company @blockfolio hacked.
Offensive push notification sent to all users and names of cryptocurrencies changed on the app. pic.twitter.com/fkmeNpIEQh
— Alon Gal (Under the Breach) ?? (@UnderTheBreach) February 9, 2021
The breach on Blockfolio to display offensive content captured the attention of multiple Twitter users who alerted the wider crypto community of the incident.
Breaking : @blockfolio hacked
— David Gokhshtein (@davidgokhshtein) February 9, 2021
It is currently unclear how many users received obscene messages last night, but the app appears to have been compromised “in a big way,” according to several Twitter users.
.@blockfolio got breached/compromised in a big way. Some terrible edits happened within the app and terrible push notifications were sent to users. Oof. pic.twitter.com/Znb3HxhkGa
— Jordan Spence (@spencecoin) February 9, 2021
Blockfolio co-founder Edward Moncada later explained that the hacker had gained access to the platform via a compromised marketing account that has since been suspended.
The Blockfolio Team Swings Into Action
Blockfolio has quickly moved to apologize to users for the breach and has since removed all offensive messages from the app’s affected section.
We are incredibly sorry about the offensive messages posted on Blockfolio today.
We will be addressing this ASAP.
Funds, trading, etc. are not at risk; this only affected the displayed information.
— FTX (formerly Blockfolio) (@ftx_app) February 9, 2021
The crypto portfolio tracker has also revoked access to the signal submitter who shared the offensive push notifications.
According to the Blockfolio security team, the hack didn’t interact with any trading features, and user funds are completely safe. The app’s section offers $10 in free credit to every trading in Blockfolio user to appease users.
3: the tracking parts of the app are coming back online momentarily.
4: all Blockfolio users with trading enabled have been credited with $10 free, as will anyone else who signs up this week (max 1m people).
— FTX (formerly Blockfolio) (@ftx_app) February 9, 2021
The offer extends to all new customers who sign up to trade this week, up to a limit of 1 million users.
Sam Bankman-Fried, the CEO of FTX exchange, also issued an apology to all affected users. His conversation acquired the platform last August in a $150M deal and powered the app’s trading function.
1) Really, really sorry about the messages in @blockfolio today.https://t.co/hTWWbJT4YW
— SBF (@SBF_FTX) February 9, 2021
Bankman-Fried has pledged to donate to the American Civil Liberties Union and lead a security review of outdated, non-trading-related parts of the Blockfolio app.
5) No members of the Blockfolio team wanted this to happen. But we are all responsible for our product and will be doing what we can to fix this. I'll also be donating to the ACLU today, as will a number of other staff members.
— SBF (@SBF_FTX) February 9, 2021
The Platform is Offering Zero-Fee Trading
The security breach on Blockfolio comes just over a week after the platform announced it would offer clients access to zero-fee trading. FTX’s founder Bankman-Fried also unveiled bonus tokens for traders on the crypto tracking app.
Trade crypto and stocks with no fees. pic.twitter.com/uwKrP287gI
— FTX (formerly Blockfolio) (@ftx_app) January 28, 2021
The move was made possible by Blockfolio’s integration with FTX that enables users to access the exchange via the trading app.
FTX has been making waves in the crypto space with its innovative products such as synthetic Facebook, Google, and Amazon stocks trading. The fast-growing exchange even listed AirBNB at the end of 2020.
Interestingly, FTX listed tokenized stocks and futures for GameStop during the recent tussle between Redditors and Wall Street players. Its traders will now have the same access to such lucrative stocks following the integration with FTX.
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