Cryptocurrency Exchange Kraken has said that it “coordinates with law enforcement” after security researchers would have tried to squeeze the company after their discovery of a vulnerability in its platform.
A researcher of the nameless company submitted a BUG -Premy report on 9 June to Kraken after finding an “extremely critical” vulnerability.
“Within a few minutes we discovered an isolated bug. This allowed a malignant attacker to initiate a down payment on our platform under the right circumstances and receive money in their account without fully completing the deposit,” Kraken explained CSO, Nick Percoco.
“For the sake of clarity, the assets of no customer were ever at risk. However, a malicious attacker could effectively print assets in his cracking for a period of time.”
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After patching within two hours after the report, Kraken discovered that three people had exploited the mistake to artificially increase their balance on the stock exchange. The first credited their account with just $ 4, probably to work the exploit work. The second two, however, took almost $ 3 million back from the treasury of Kraken, Pcoco said.
When Kraken contact us to ask-as usual with Bug-Bounty programs “a full report of their activities, a proof of concept that is used to create the activity on the chain and to arrange the return of the funds they had withdrawn,” the researchers refused.
“Instead, they claimed a phone call with their business development team (that is, their sellers) and did not agree to give funds back until we provide a speculated $ amount that this bug could have caused if they had not revealed it. This is not a white hacking, it is a breakdown,” argued.
“As a security researcher, your license is called in a company to ‘hack’ by following the simple rules of the BUG Bounty program in which you participate. Ignoring those rules and extorting the company withdraws your ‘license’. It makes you, and your company, criminals.”
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