Cryptocurrency exchange Liquid warns users about suspicious activity

29 Oct, 2018
by Richard Allen
Cryptocurrency exchange Liquid warns users about suspicious activity

Cryptocurrency exchange Liquid has posted a troubling tweet in which they explain that suspicious activity was picked up last week related to third-party services used by clients to access Liquid via API.

According to the official statement, the activities resulted in a small number of unauthorized trades that were made where one crypto asset was sold for another “at a price well outside the current market range.” The team believes that these trades were related to vulnerabilities at third-party services where customers stored their API keys.

The malicious activity was picked up shortly after the trades happened and the team immediately froze withdrawals as a precautionary measure while the matter was being investigated and the anomalies were identified. The suspicious accounts were then banned, and the exchange is reaching out to any impacted users directly.

As a means to provide further security, the exchange suggests Liquid customers:

· Whitelist IP addresses for API access on Liquid. Instructions to do this can be found here.

· Never share your API keys with write permission enabled to third-parties

· Never keep your API keys anywhere where they can be viewed or stolen. Even though API keys can’t be used to withdraw funds from your account, they can still result in losses

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