The infamous web3 Twitter detective ZachXBT reported on Dec. 20 that forty-four 3Commas users had lost $14.8 million due to theft. ZachXBT claimed users were forming a class action lawsuit against 3Commas.

3Commas released a statement asserting to disprove all claims. The company argued that the accusations were “fake” and “baseless.”  Further, the crypto trading platform contended that they have concrete evidence that phishing played a part in some incidents. 

Users claimed 3Commas leaked their API keys, resulting in unauthorized trades. The accusations were aimed directly at 3Commas employees rather than some nefarious third party.

Additionally, the firm confirmed that there had been no breach of security encryption mechanisms or databases. If a breach had occurred, all API keys and linked accounts would have been compromised, according to 3Commas.