The Friend.tech project, which has recently attracted a lot of interest in the cryptocurrency world due to its explosive financial growth, is currently under fire due to security and data leak issues. Over 100,000 Twitter accounts linked to certain wallet addresses, according to a tweet from Cos, may have been compromised, alarms were raised. As these addresses might be linked to reveal further private information about users, this hack poses a serious threat to their privacy.
Spot On Chain emphasised possible weaknesses with the Friend.tech platform, which raised additional security worries.
Despite earning an impressive 2,953 ETH (about $5M) in fees in just 11 days and the total value of all shares currently standing at 4,435 ETH (about $7.4M), the project has problems like possible “data leaks via API” and the unsettling ability for users to “buy/sell shares without an invitation code from the contract.” The platform has also experienced a surge in bot activity amid these worries. DeFiyst brought up the ongoing Miner Extractable Value (MEV) conflict on Friend.tech’s Base, where bots have become exponentially better since the first snipers were made available for open-sourcing last week.
Since its debut, the term “Friend.tech” has gained traction in the cryptocurrency world. High-profile people have declared their affiliation with Friend.tech, including Garry Tan, president and CEO of Y Combinator.
Potential investors and users are recommended to exercise caution and perform careful investigation before engaging with the project, though, in light of recent security and data leak concerns.