Okay, good afternoon, uh today is monday april 25th. It is 12 o’clock uh pm here on the east coast, united states. Welcome to everybody.
Welcome to our monday corporate call for easybot. We’re excited to be here with you so again. If you’ve been around and you’ve been paying attention, hopefully you joined us. I know a couple of you guys looking at the names we’re on our saturday call, so you heard me talk about the uh what’s happening in terms of our community and why the announcements that you’re, seeing so we’ll talk about that talk about what’s going on um, We’Ll talk about why the um telegram rooms closed at the moment, all of those things and then we’ll give a few moments for questions and then we’ll bounce out.
Eazy Bot Coinbase Pro
So but let’s talk about what’s happening uh some of you may have some questions, and so i’m going to answer those questions before we even uh have to ask them, and so let’s talk about why you’re seeing the uh critical security alert warning if you’re trading in Easybot using binance or binance us you’re, seeing a popup in your back office and, of course, if you’re following us on telegram, you’ve seen us post a couple of announcements as well about a critical security update, and we also sent the same message by email to anybody Who has connected their api and is trading in binance? Now, let’s talk about why that is and what’s happening so in the last couple of days. I think this started with us late thursday uh. We started getting uh notices from a couple of members that they had suspicious malicious activity in their accounts and it uh it’s something that we’re investigating uh.
At total. There are about six members out of thousands of members who are trading with us that have had a similar event happen in their binance accounts and so for an abundance of caution. What we have decided to do was to make sure that we were while we were obviously investigating what’s happening, and we are doing some some diligent investigations uh. We also want to make sure that we take the fastest path to protecting our members and the fastest way to do.
That is to simply disconnect that api connection and re reconnect the new api connection. Now, why are we focused on the api connection? Well, the number one reason we’re focused there is because that is where we’ve seen some malicious activity happen is through an api connection in these members accounts. Now we don’t know that this is limited to easybot.
There is some indications that there that these kinds of things happen outside of the easybot environment um. However, what this has done for us and what we’re going, what our response is as a company, is to make sure that we are ultra focused on safety and security for ourselves and for our members, and so that’s what we’ve been really doing in the last couple Of days i’ll talk to you about some steps that we’ve taken some specifics. I won’t get into for obvious reasons where we’re taking some security protocols and precautions that just don’t make sense to share publicly. But i will say that since we started getting these notifications, the team has done a really deep dive into our own systems into our own logs and so forth.
We are in the process of hiring a security specialist for our application. We already have a security specialist for our server side of things, we’ll talk about what that looks like here in just a moment, um, but we are doubling down on our security apparatus, and so what that means for us as a company. Is that we’re putting safety security first, we’re taking this experience and and our members experiences to heart uh every one of those that have been affected is meeting directly with muhammad coach, ken and so we’re family.
Here we take care of one another, and while we don’t have total clarity as to exactly what the experience is, what we’re happy is that it’s it appears contained. It doesn’t appear to be something that is rampant within the easybot community. So we’re excited about that, but nonetheless anything that affects our members affects us, and so we want to make sure that we take it as a signal to be really really proactive about our safety and our security in this space and crypto.
We know that there are scammers rampant throughout the crypto sphere and we don’t want to take that lightly. What we do here is a lot of fun. We can make a bunch of money, we can make a bunch of crypto, but if we’re not focused on safety and security first and we’re we’re building that portfolio on some really shaky ground. So what you’re going to see us focus on in the coming weeks? As a company, especially in our onboarding process, is helping each of our members to really be security and safety focused we’re going to do that.
Take the lead as a company and make sure that we are doing everything in our power to get to provide for ourselves. As a company and for our members, the safest environment that you can operate in, and we’re going to ask our members to prop to to partner with us in that process, to make sure that we understand what we can do to empower ourselves as we’re in as We’re getting engaged in crypto, you know a lot of folks are coming into crypto for the first time and they don’t necessarily understand how serious it is and how rampant some of the bad actors are in this space, and so the difference in one of the challenges In crypto is that you’re kind of on your own you’ve got a lot of responsibility and opportunity here, but that also means that you’ve got to take the responsibility to protect yourselves and so we’ll be a lot more focused in our messaging around. What that looks like. But in terms of our event here the reason why we create why we closed the telegram room was number one just to to dial down some of the noise.
That happens when there’s an event, and we don’t quite understand uh the extent of it or what’s happening. We needed to dial down some of the noise so that we weren’t being reactive or responsive to things that come up, and we are aware that when people don’t have all the information they get uncertain and fearful and they’ll make up answers on their own. We’re aware of that, and at the same time we need we wanted to make sure that we were giving the proper attention to all the all that is needed of us. In this moment, the research uh the investigation of, what’s going on with our members, the attention to the members of themselves being able to hear from within the community if there are other issues to be able to be responsive to those very quickly.
And so we close the telegram room so that we could prioritize where our attention and our energy was focused and not spending a bunch of time and energy, refuting uncertainty and rumors and so forth. We will open that room back up, not really sure when look for it, probably within the next one to two days, maybe even as early as this evening, we haven’t really made a decision on that, yet it isn’t again a super high priority. It’s giving us a little bit of relief to be able to focus on the matter at hand uh, but we will open it back up.
We want to hear from our members – and we want to do – we do want to address the uh. The questions that come up but we’re here we’re present we show up on calls like this. We did a call saturday.
We talked about the events on saturday, we’re here again monday on our on our corporate call, doing a corporate update announcement and we’re talking to you about. What’s going on uh we’re talking to you about what’s happening with your family members with other people that are in this journey with us and we’re talking about what what what our focus is going into the future, how we’re responding to it! So we’re here we’re here with our members, we’re here with you and we’re excited that this is an experience that we get to have. That brings us to a point of laser focus around something, that’s a very, very, very important issue. It’s near and dear to our hearts, we’ve been spending a lot of time and energy in uh in focus on security.
It’s part of why we have been really laboring with this server migration. It’s really part of the improvement of our security apparatus, so that’s what’s happening as it pertains to kind of the shift of attention and energy that you might have experienced in the last couple of days. We expect things that will things will settle back to normal, we’ll have the telegram room open and going.
We don’t anticipate that there’s a widespread issue. However, it is an ongoing investigation and we are doing some things layers and layers of things. Some minor some uh more major that you’ll hear more details about in the coming weeks. Some things you’ll just see show up in your account that you’ll notice are different and it’ll be obvious that we’re adding some layers of uh of elements of security for your account.
So a lot of things happening um. Let me shift gears real, quick and talk about uh, the next most important piece, which is our server migration. We’Ve been talking about this for some time. This is important for a number of reasons.
It allows us to build layers of additional security protocols in place. Most of these are already in place in our current environment, but they allow us to scale them as the community grows and particularly as it’s growing in different geographical locations allows us to really respond to that scale of growth. So we’re excited about what that means.
We go we’re in testing in the server in the new environment this week. There are a lot of really exciting things about what uh, what that environment means in terms of security and safety for the business and our members. So we’re excited to be there. We’re excited to be able to build.
On top of this new environment. We’Ve had a little bit of a delay in building and changing applications because uh we really needed to prioritize getting into the new environment first, so we’re in testing this week, which means that uh we’re right there at the finish line and we should be able to Start adding some integrations here shortly, so those are the two big things that are happening: major focus on safety and security for our members and for our company and then wrapping up our server migration. Those are at the top of the list of what’s happening for us.
This week, the other thing that i’m sure that there are questions about is coinbase pro so i’ll address that as well. Coinbase pro is obviously, as i’ve said, it’s something that we remain committed to. It isn’t something until we finish this server migration and some really key pieces that we’re focused on from the security standpoint uh. Those two pieces have our undivided attention right now, once they’re done, we are working on coinbase kind of in parallel, but we have some other solutions that are also being worked on in parallel.
That may come to fruition even sooner than coinbase. So we’re constantly working on a number of different exchanges and exchange solutions. So look out for some information coming here shortly. The short answer to the question about coinbase is: we are bringing answers and solutions and connections to everyone in the world and we’re doing it as fast as we possibly can.
So, please be patient with us. It is definitely something that we’re working on guys. Those are the three most important things that we can talk about here today, i’m going to pause and take any questions that anybody else might have.
You’re welcome benjamin come on in good good afternoon, sir afternoon brother uh. So just you know i i i get it and maybe some people don’t, but can you speak to the a little bit to the reasoning or the approach as to why the layered security and the server migration, all that wasn’t done before launch? Can you speak to that a little bit, um yeah? Well, the first thing i would say is that’s not really it’s not accurate, um, that’s what i’m asking you yeah and i get it. So let me let me clarify. So thank you for your questions.
Let me clarify our position: we have an incredibly secure environment for our server today, however, there is a the challenge of maintaining that level of security and scaling in all various parts of the world. It’s the challenge that we cannot meet today in this current server environment. So, as a company scales as a technology scales, there are greater demands on that technology and so the ability to respond to those demands, both from a bandwidth standpoint from a security standpoint.
The attention that we get as we become more successful as a company requires uh. You know people that are actually monitoring the system we didn’t have that we do have that today. So as a company grows, it’s you know, it becomes more and more aware of its vulnerabilities.
It becomes more and more cash capable, quite frankly, of investing in its security infrastructure. You know i would. I would answer it almost in this way and saying there was a point in time.
You could get on an airplane without having to take your shoes off and go through the security checkpoint, but something happened. It didn’t happen to everyone. It happened to a few people, but it was such a jarring event that now everyone for the last 20 years has to take their shoes off walk through a metal detector in order to get on an airplane. So the reality of kind of what happens in the world is that you respond to the events and as jarring as it is tends to be your response.
You know i i use the example of you know if you’ve ever had your home broken into, or you know the story you’ve been around somebody who has they tend to overreact in their response to security, and it feels like an overreaction to an outsider. Looking in but to the person who’s been offended, you just are going to do everything in your power to lock down that offense. So, from our standpoint uh we have a roadmap of security implementations that are being done, obviously like any other development. There’s time.
That’s that goes into some of these implementations, so some of it is just the time to uh to do those um and then there’s this experience and again it’s it’s still early in the process. It seems fairly limited. So we don’t have a reason to think that there’s a massive exploit happening, but we took some very quick and deliberate actions to further uh ensure that the security of our members – and it is a fair question. They’re.
Quite it’s a it’s a question. Every company asks when they experience a situation like this. Did we miss this before or is it just that you’ve got to stay two steps ahead of the guy? That’s trying to cheat you and that’s it’s kind of a little bit of a cat and mouse game.
You build a security infrastructure, somebody figures out how to build a better way around it and then you’re just constantly in this uh in this cat and mouse game. But what we’ve done, as i mentioned earlier, is we have committed to right now as we speak, we have three different security companies, cyber security companies that are doing audits on our system. First, to help us identify if there was a an incident related to the easy bot system, also find also to give us an indication of any areas of vulnerability that we haven’t already identified and then ultimately, one of those will become a partner that will do 24.
Very Important Call | Easybot
7 monitoring on our application end of things. So it’s a it’s a major major response for a company of our size but uh we’re committed to that response because we’re committed to our members. So it’s hard it’s difficult, maybe from without appreciating all that we’re investing, but the investment into security infrastructure that we’ve made for a company of our size is is massive. It is overkill for what we are today.
What we’re building is for what we will be tomorrow, not for what we are today. So it’s not a lack of proper protocols in place. It’s just we’re we’re building for a company that will have a million members joining every single month.
Hope that helps you