Coinbase Fixes 'Potentially Market-Nuking' Flaw | CoinMarketCap

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Coinbase has fixed a 'potentially market-nuking flaw' that could have allowed malicious users to sell Bitcoin without owning it 😬 But the exchange is facing a backlash after giving a bug bounty of just $250,000 to Tree_of_Alpha 💰

Tree of Alpha had spotted this vulnerability on Feb. 11 — the Friday before the Super Bowl — and immediately began attempting to reach out to Coinbase executives to inform them of this vulnerability.Within 30 minutes, all of the markets in its advanced trading feature were in cancel-only mode, with Coinbase CEO Brian Armstrong reaching out at the time to say thank you.

"We will never know what exactly could have happened should a black-hat hacker try to exploit it, and it is better this way. While I could have, myself, tried to flash huge limit sell orders, responsible testing requires I only do the necessary to assess the extent of the bug." "While I sometimes have my beef with Coinbase, I am not sure I could have reached any other CEX that quickly in the same situation."

 

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Coinbase rewards researcher $250,000 for discovering 'market-nuking' bugThe bug, which was discovered by anonymous account Tree of Alpha, allowed the person to sell 0.0243 BTC on Coinbase's exchange with 0.0243 Ether. Wow, what cheap skate. Had that been a bad actor the exploit could be catastrophic. I have been making huge profits in real time, the crypto market has been a source of great income for me, all thanks to 'Mrs Crypto Candice', she is doing a great job managing my portfolio Candicestewartt. Amazing exchange
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