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Blockfolio Apologizes After Racist Terms Posted in Portfolio App
A "Signals" account has been blocked after making racist posts available to all users of the app.
Blockfolio has apologized after racist posts were distributed over its cryptocurrency portfolio and news app.
STORY CONTINUES BELOW
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Overnight, at least two messages purporting to be from major cryptocurrency platforms were posted containing racist terms of abuse via "Signals" – Blockfolio's communications feed to allow token projects to "connect and engage with their communities."
In a tweet Tuesday morning, Blockfolio said it was "incredibly sorry about the offensive messages posted today.”
The firm said no funds were affected and the event did not affect any trading features. "We have revoked access to the compromised Signal submitter and removed the messages," it said.
We are incredibly sorry about the offensive messages posted today.
— FTX (formerly Blockfolio) (@ftx_app) February 9, 2021
1: no funds/etc. were affected; this did not interact with any trading features.
2: we have revoked access to the compromised Signal submitter and removed the messages.
Sam Bankman-Fried, CEO of the FTX exchange that owns Blockfolio, tweeted that all the app's trading accounts are being given $10 by way of an apology.
"No members of the Blockfolio team wanted this to happen," he said. "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."
Read more: Portfolio App Blockfolio Adds Crypto, Stock Trading to Capitalize on GameStop Drama
CoinDesk asked Blockfolio what specifically it plans to do to prevent such abuse of the Signals system in future, but did not immediately receive a reply.
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
