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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