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Revoke the API key at the cryptocurrency exchange immediately. Sign in through the exchange’s known official website or app, open API Management (or the equivalent account-settings page), and delete or disable the key used by the bot. Removing a connection inside the bot service is not proof that the exchange-issued credential is invalid. Confirm the key is revoked in the exchange dashboard, then review account activity and contact the exchange’s official security channel if anything is unfamiliar.
The exact labels and navigation differ among exchanges and can change. The procedure below separates the urgent response from investigation, account recovery, and safe key replacement.
What revoking a bot API key actually does
An exchange API key is a credential that lets an approved application call specific account functions. Its capabilities depend on the permissions selected when it was created. A bot may be able to read account information, place or cancel orders, or perform other actions allowed by the key. Some exchanges separate trading from transferring funds; others expose different combinations of read, order, and account-management permissions.
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The key and its secret should be treated as sensitive credentials. Possession of both may allow an application to authenticate without using the exchange’s normal web interface. The risk therefore depends on the scopes assigned, the exchange’s controls, and whether another account or session was also exposed.
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Revocation disables the exchange credential. It does not automatically prove that the bot account, your exchange login, your email, or another key is secure. It also does not reliably undo trades that were already submitted, cancel every open order, restore a transferred asset, or investigate an intrusion. Those outcomes require checking the account and following the exchange’s incident process.
Do this first: an emergency revocation sequence
- Open the exchange directly. Type the known address yourself or use the official app. Do not use an unsolicited support message, advertisement, or link sent during the incident.
- Find API management. Look under Account, Security, Developer, API, API Management, or a similarly named settings area. Search the exchange’s current help center if the label has moved.
- Identify the suspected credential. Match the key name, creation date, permissions, or application description to the bot. If you cannot distinguish it confidently, treat every unfamiliar or unnecessary key as suspect.
- Revoke or delete the key. Confirm the removal in the exchange interface. If the concern involves unusual account activity, revoke all API keys rather than only one; Binance’s official API guidance gives that instruction and tells users to contact its support team.
- Check the result. Refresh the API list and verify that the key is marked revoked, disabled, or absent. A disconnected bot dashboard alone is not confirmation.
- Review activity. Inspect recent orders, fills, cancellations, deposits, withdrawals, balance changes, login events, and any other security history the exchange provides. Record unfamiliar timestamps, symbols, amounts, and transaction identifiers.
- Contact official security support. Report unknown actions through the exchange’s authenticated support or account-security route. Kraken directs users who suspect compromise or see unrecognized activity to its Account Security team; Binance likewise instructs users with unusual activity to contact support.
If you believe the exchange login itself is compromised, change its password from a trusted device, secure the associated email account, invalidate other sessions where the exchange provides that control, and follow the exchange’s account-recovery instructions. Do not wait to finish a bot-service investigation before disabling the exchange key.
How to tell whether you need to revoke one key or every key
Revoke one key only when you can confidently identify the credential, the concern is limited to that bot, and the account shows no broader signs of compromise. Even then, inventory the rest of the API list. Old credentials often remain active after a bot is retired, and a descriptive key name is not proof of who used it.
Use a broader response when you see unusual account activity, cannot identify the exposed credential, or suspect that the exchange account or bot provider was accessed. Binance’s official guidance specifically says to revoke all keys after unusual activity. Removing every key may interrupt legitimate applications, but it removes uncertainty while the account is investigated. Record the keys and permissions first if doing so will help support reconstruct the incident, but do not delay emergency revocation to create a perfect inventory.
Exchange workflows and permission differences
These exchanges use different permission models, so one platform’s labels should not be treated as universal.
| Exchange | Where to act | Relevant permission details | Suspicious-activity direction |
|---|---|---|---|
| Binance | API key management in the account’s API settings; labels and product interfaces can vary. | Trading permission is represented by TRADE; user-data access is separate. Binance states that a key cannot trade by default. |
Its official API documentation says: “If you notice unusual activity on your account, immediately revoke all the keys and contact Binance support.” |
| Kraken | API-key controls in the account settings or API page. | Permissions can include querying account data, Modify Orders, and Cancel/Close Orders. A normal order-placing bot would almost certainly not need Withdraw Funds. | Contact Kraken’s Account Security team immediately when activity is unrecognized or compromise is suspected. |
| Coinbase Exchange | API-key controls in the developer or account settings area. | Creation options distinguish View, Transfer, Trade, and Manage. Transfer can move value, including deposits and withdrawals, and bypasses 2FA. | Its rotation guidance starts with revoking or deleting the old key, then creating a replacement and updating connected applications. |
Use the current help documentation for your account, region, and product. An exchange may have separate interfaces for spot trading, derivatives, brokerage, or institutional accounts. A label such as “manage” or “account access” can cover different capabilities on different products, so read the permission description instead of relying on the label alone.
Binance: revoke every key when activity is unusual
Immediate action
Open the Binance account through the official site or app and go to its API-key management controls. Revoke the key associated with the bot. If you see unexplained activity or cannot determine which credential was exposed, revoke all keys, as the official API documentation recommends, and contact Binance support.
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Binance separates trading capability (TRADE) from user-data access. The documentation also says a key cannot trade by default, meaning a newly created key may have no order permission until that scope is enabled. Check each key’s actual scopes rather than inferring them from the bot’s name. A key that can read user data may still reveal account information even when it cannot place an order.
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After revocation
Review open orders, completed trades, cancellations, balances, deposits, withdrawals, and account-security events. Revocation stops future API calls accepted with that credential; it does not establish whether an order was already accepted or whether another credential or the account login was used. Give Binance support the timestamps and transaction details you collected.
Kraken: remove the key and involve Account Security
Immediate action
Use Kraken’s account settings or API page to delete the suspected key. Kraken explains that third-party services such as bots can access account information or conduct trades according to the permissions granted. If you see an action you did not authorize, contact the Account Security team immediately rather than relying only on the bot provider.
Use the least privilege that fits the bot
Kraken’s creation guidance gives a practical example. An order-placing bot would need Modify Orders and Cancel/Close Orders. It may need query access to read balances or order status. It would almost certainly not need Withdraw Funds. Remove any permission that does not correspond to a documented bot function. If the bot only reports prices or balances, it may not need order permissions at all.
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Secure the surrounding accounts
Kraken recommends secure storage, two-factor authentication where available, two-factor protection on the third-party service account, regular permission reviews, and deletion of keys that are no longer relevant. Apply those controls after the emergency revocation and before considering a replacement key. Review the bot provider’s own sessions and administrator list as well as the exchange key.
Coinbase Exchange: revoke before rotation
Immediate action
Open the Coinbase Exchange API-key controls and revoke or delete the old key. Coinbase’s rotation instructions describe revocation as immediately disabling the key. Verify that status before creating anything new.
Check the four permission categories
The API creation guidance distinguishes View, Transfer, Trade, and Manage. Transfer access is especially sensitive because it can move value, including deposits and withdrawals, and can bypass two-factor authentication. A trading bot that only places orders should not receive transfer access merely because the option is available. View access may be enough for a monitoring application; Trade adds order activity; Manage should be enabled only when the application’s documented function requires it.
Complete the rotation
After the old credential is revoked and the account is checked, create a replacement with only the required permissions. Update the connected application using Coinbase’s documented workflow, then test the narrowest operation needed. Do not leave both old and replacement keys active longer than necessary. If the application cannot work without a broad permission, ask whether its design can be changed rather than accepting unnecessary transfer capability.
How to investigate what happened after revocation
Build a time-ordered record
Save the key name, permission set, creation and revocation times, bot account, exchange account, and the period during which the concern occurred. Export or screenshot relevant order, trade, balance, withdrawal, login, and security records if the exchange allows it. Preserve transaction IDs and support-ticket numbers. Write down when you first noticed the problem and what action you took; support can correlate those times with its internal logs.
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Check orders and balances separately
Look at open orders as well as completed trades. A key may have placed an order that remains open when you revoke it. Confirm whether you need to cancel an order yourself through the exchange interface, and ask support how it handles disputed or suspicious orders. Compare balances with your own records and inspect deposits and withdrawals independently from trading activity. A clean trade history does not rule out an unauthorized transfer, and a balance change does not identify which credential caused it.
Do not assume the bot is the only access path
Review every API key, connected application, active session, email notification, and security event. An attacker could have used a copied key, a second key, the bot provider’s account, or your exchange credentials. Unknown activity is a reason to involve the exchange’s security team, not evidence that revocation alone solved the incident.
Find and close the exposure path
Before reconnecting anything, determine how the credential could have been exposed. Common questions include:
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- Did the bot service, server, browser extension, or computer have an unexpected login or malware alert?
- Did someone receive the secret through email or an unverified support conversation?
- Was the bot account protected by a unique password and two-factor authentication?
- Were the key permissions broader than the bot’s documented functions?
Remove the secret from code and logs, rotate credentials for the affected bot account, secure the host where the bot ran, and review the service provider’s security controls. A replacement exchange key should wait until the suspected storage or account problem is addressed. Deleting a secret from the latest version of a file may not remove copies from logs, backups, tickets, or chat history, so check every place where the bot was configured or debugged.
Create a replacement key safely
- Confirm the exchange account is clean. Finish the activity review and any instructions from account security.
- Document the bot’s exact needs. Decide whether it only reads data, places orders, cancels orders, or needs another narrowly defined function.
- Grant minimum permissions. Enable only the scopes required. Keep withdrawal or value-transfer permission off unless the bot’s purpose genuinely requires it and the exchange explicitly supports that design.
- Use protected storage. Store the key and secret in the bot host’s secret manager or protected environment configuration, not in source code, screenshots, tickets, or shared chat.
- Protect the bot account. Use a unique password and two-factor authentication where available. Restrict who can administer the server or dashboard.
- Update the application through the exchange’s documented process. Enter the replacement credential only in the bot’s official configuration interface, verify the connection, and monitor the first actions.
- Set a review date. Remove the key when the bot is retired, change its permissions when its function changes, and periodically check that no unneeded keys remain.
Keep a simple record of which application owns each key and why each permission is enabled. That makes the next audit faster and helps you recognize an unfamiliar credential. If a bot’s functions change from read-only monitoring to order placement, reassess the scopes rather than automatically reusing a broad key.
Common mistakes and how to avoid them
Deleting the bot connection instead of the exchange key
A bot dashboard can forget a credential while the exchange continues to accept it. Always confirm deletion or revocation in the exchange’s API-management page.
Revoking only the key named after the bot
Attackers may use another key, or an old key may have been forgotten. When the account shows unusual activity, inventory every key and follow the exchange’s advice about revoking all of them.
Leaving transfer or withdrawal access enabled
Trading access and value-transfer access are not the same. Review the permission list and remove transfer or withdrawal capability unless it is essential and specifically justified.
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Assuming revocation reverses an earlier trade
Revocation prevents further use of that credential; it is not a rollback mechanism. Check order status and balances, and ask the exchange how to report or dispute an unauthorized action.
Following a fake support link
During a security scare, scammers may impersonate an exchange representative. Start from the official app or a web address you already trust, and never disclose an API secret, password, recovery code, or two-factor code to support.
Reconnecting before investigating
A fresh key can be exposed in the same way as the old one if the bot host, service account, or storage location remains compromised. Resolve the exposure path first, then issue a narrowly scoped credential.
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A bot may reconnect and place a test order even while an unknown session remains active. Treat connection testing as an application check, not an incident investigation. Continue monitoring account activity and complete the exchange’s security process.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.When to treat the incident as an account compromise
Escalate immediately if you find an unknown withdrawal or deposit, orders you did not place, changed security settings, unfamiliar logins, a missing device, or evidence that the bot account or exchange password was accessed. Tell the exchange which key was revoked, what actions are unknown, and when they occurred. Follow its instructions for freezing activity, securing the login, preserving records, and reviewing pending orders.
If no unauthorized activity appears, continue monitoring after revocation. Keep the incident record, audit all remaining keys, and do not restore the bot until its account, host, and credential storage meet the exchange’s security recommendations.
Final checklist
- Signed in through the exchange’s official website or app.
- Revoked the suspected key in the exchange’s API controls.
- Reviewed and, when appropriate, revoked every unfamiliar or unnecessary key.
- Checked orders, trades, balances, transfers, logins, and security events.
- Contacted official exchange security support for any unrecognized activity.
- Secured the exchange login, email account, bot account, and bot host.
- Identified and corrected how the old credential was exposed.
- Created a replacement only with documented, minimum permissions.
- Stored the replacement secret securely and scheduled permission reviews.
Frequently Asked Questions
Does deleting a bot connection revoke the exchange API key?
Not necessarily. Removing the connection in the bot dashboard may only erase the bot’s copy of the credential. Revoke or delete the key in the exchange’s own API-management controls and verify that it is disabled or absent.
Should I revoke every API key after suspicious activity?
If you see unusual activity or cannot identify the exposed credential, yes, use the exchange’s guidance. Binance specifically instructs users to immediately revoke all keys and contact support after unusual activity. Inventory the remaining keys and recreate only those that are still needed.
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Will revoking the key cancel open orders or reverse trades?
No universal rollback should be assumed. Revocation blocks future use of that credential, but an order may already have been accepted or may remain open. Check open orders, completed trades, balances, and transfers, and ask the exchange how to handle an unauthorized action.
Can a trading bot withdraw cryptocurrency?
Only if its API credential has a permission that allows transfers or withdrawals and the exchange supports that capability. Kraken says an ordinary order-placing bot would almost certainly not need Withdraw Funds. Coinbase identifies Transfer as capable of moving value, including deposits and withdrawals, and says it can bypass two-factor authentication.
What permissions should a Kraken order bot have?
Kraken’s example says an order-placing bot needs Modify Orders and Cancel/Close Orders. It may need query access for balances or order status, but it would almost certainly not need Withdraw Funds. Remove permissions that do not match a documented function.
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Not by default. Binance documents trading as the TRADE permission and says a key cannot trade by default. Check the actual scopes on the specific key instead of assuming that every key can place orders.
What should I do if I find an unknown withdrawal or login?
Treat it as a possible account compromise. Revoke the relevant keys, secure the exchange and email accounts, preserve timestamps and transaction IDs, and contact the exchange through its official security or support channel. Follow its instructions about freezing activity, pending orders, and recovery.
When is it safe to create a replacement key?
Only after you have reviewed activity, addressed any instructions from account security, and fixed the suspected exposure path. Create the replacement with minimum permissions, store it in protected configuration, secure the bot account and host, and monitor its first actions.
The Bottom Line
Revoke the credential at the exchange first, not only inside the bot. Verify the key is disabled, inspect orders, balances, transfers, logins, and security events, and contact official exchange security support for anything you do not recognize. Fix the bot, host, account, or storage problem that exposed the credential, then create a narrowly scoped replacement only when the account is ready.
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