update 30 October 2021

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 nightThe 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.

The breach on Blockfolio to display offensive content captured the attention of multiple Twitter users who alerted the wider crypto community of the incident. 

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 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.

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.

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. 

Bankman-Fried has pledged to donate to the American Civil Liberties Union and lead a security review of outdated, non-trading-related parts of the Blockfolio app. 

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

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. 

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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.