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.

AccessTimeIconFeb 9, 2021 at 9:26 a.m. UTC
Updated May 9, 2023 at 3:15 a.m. UTC
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Blockfolio has apologized after racist posts were distributed over its cryptocurrency portfolio and news app.

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.

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."

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.

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