February 19, 2022, 12:07PM EST · 2 min readThose are two words that can capture a trader's attention in crypto. And when an anonymous account Tree of Alphathose words to describe a possible exploit on Coinbase, it sent crypto Twitter into a tizzy about the extent to which Coinbase could be exploited.
In a blog post, Coinbase said that the problem was a bug in the new trading feature in limited beta availability. An exploiter, using two accounts, could manually modify their APIs connected to the exchange to sell a certain amount in one asset if they had the same amount in the other account with the same amount of another crypto.
Coinbase said it would pay Tree of Alpha $250,000 as a bounty — a figure that’s dwarfed by the bounties paid by DeFi protocols. Wormhole offered to pay out $10 million after its eye-popping hack earlier this month.
Only 250,000$ 😏
They would rather short and nuke.
Amazing exchange
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Wow, what cheap skate. Had that been a bad actor the exploit could be catastrophic.