Fun

CertiK identified Kraken exploit, claims exchange ‘threatened’ its team

News Feed - 2024-06-20 03:06:53

Turner Wright5 hours agoCertiK identified Kraken exploit, claims exchange ‘threatened’ its teamThe security firm said it was transferring the digital assets obtained in the exploit of Kraken back to the exchange, but many crypto users questioned its motives.1144 Total views5 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksBlockchain security firm CertiK has gone public, identifying itself as the “security researcher” that cryptocurrency exchange Kraken claimed stole $3 million worth of digital assets.


In a June 19 X post, CertiK said it had informed Kraken of an exploit that allowed it to remove millions of dollars from the exchange’s accounts. Kraken chief security fficer Nicholas Percoco claimed that an unnamed security team — not revealed to be CertiK at the time — had committed “extortion” by refusing to return any funds until the exchange agreed to provide “a speculated $ amount that this bug could have caused if they had not disclosed it.”


“After initial successful conversions on identifying and fixing the vulnerability, Kraken’s security operation team has THREATENED individual CertiK employees to repay a MISMATCHED amount of crypto in an UNREASONABLE time even WITHOUT providing repayment addresses,” said CertiK. “In the spirit of transparency and our commitment to the Web3 community, we are going public to protect all users’ security. We urge [Kraken] to cease any threats against whitehat hackers.”


The security firm posted a timeline of events, starting with identifying the exploit on June 5 and ending with claims Kraken threatened a CertiK employee on June 18. In a statement to Cointelegraph, CertiK said it planned to transfer the funds “to an account that Kraken will be able to access.” 


Related: Crypto phishing attacks reached ‘alarming levels’ — CertiK co-founder


Initial reactions from many crypto users seemed to support Kraken, claiming that CertiK’s actions were not akin to white hat hackers. It’s unclear if Kraken has grounds for pursuing legal action.Source: Lefteris Karapetsas


CertiK reported in April that there had been roughly $1 billion in digital assets lost to illicit activity in 2023. The firm has previously identified vulnerabilities in the Wormhole bridge on Aptos and the Telegram app.


Magazine:Crypto audits and bug bounties are broken: Here’s how to fix them# Kraken# Business# Hackers# Cryptocurrency Exchange# HacksAdd reaction

News Feed

Coinbase L2 Base hosts 80% of active Uniswap traders — Token Terminal
Alex O’Donnell5 hours agoCoinbase L2 Base hosts 80% of active Uniswap traders — Token TerminalCoinbase’s layer-2 blockchain hosts approximately 80% of Uniswap’s monthly active traders.710 Total views1 Total share
Pixelmon CEO bets on fractionalized NFTs for its huge comeback
Tom Mitchelhill6 hours agoPixelmon CEO bets on fractionalized NFTs for its huge comebackThe Pokemon-esque crypto game was once mocked for raising $70 million only to produce pixelated monstrosities, but its CEO Giulio Xi
Argentinian Exchange Ripio Presents Crypto Educational Textbook and Web3 Metaverse Wallet
Argentinian Exchange Ripio Presents Crypto Educational Textbook and Web3 Metaverse Wallet Ripio, an Argentina-based cryptocurrency exchange, announced the launch of two products, a
Ana Paula Pereira15 hours agoFirst Bitcoin futures contract debuts in ArgentinaAccording to Matba Rofex, the trading platform behind the investment vehicle, the first Bitcoin futures contract in Latin America has begun t
FLOKI Faces Downside Risks: $0.000110 Support Level Under Scrutiny
Este artículo también está disponible en español. FLOKI is navigating a critical moment as technical indicators flash bearish signals, raising concerns over its ability t
Chainalysis and Integra Win $1.25 Million IRS Contract to Break Monero
Chainalysis and Integra Win $1.25 Million IRS Contract to Break MoneroCrypto intelligence firm Chainalysis and data forensics company Integra Fec have won a combined $1.25 million c
XRP Price Prediction: Fibonacci And Elliott Wave Analysis Suggests $15 By May 2025
Este artículo también está disponible en español. Egrag Crypto, a well-known crypto analyst on the social media platform X, recently shared an optimistic price prediction
Curve CEO clears up UwU Lend hack, CRV burn misinformation
Josh O"Sullivan13 hours agoCurve CEO clears up UwU Lend hack, CRV burn misinformationThe Curve CEO clarifies misinformation about the UwU Lend hack and CRV token burn, outlining preventative measures and repayment of bad
Signal boss slams EU’s latest ‘upload moderation’ surveillance ploy
Brayden Lindrea8 hours agoSignal boss slams EU’s latest ‘upload moderation’ surveillance ployThe Chat Control law is aimed at combating child exploitation material, but Meredith Whittaker said it’s just the lates
Tether vows to freeze assets after Venezuela looks to crypto to bypass oil sanctions
Gareth Jenkinson9 hours agoTether vows to freeze assets after Venezuela looks to crypto to bypass oil sanctionsUSDT-issuer Tether says it will block payments made to OFAC-sanctioned entities after sources claim Venezuela
Report: US Government Auctions Off Failed Banks SVB and SNBY, Crypto Restrictions Apply
Report: US Government Auctions Off Failed Banks SVB and SNBY, Crypto Restrictions Apply The U.S. government and the Federal Deposit Insurance Corporation (FDIC) are auctioning off
North Korea Stole Record Amount of Crypto Assets in 2022, UN Report Unveils
North Korea Stole Record Amount of Crypto Assets in 2022, UN Report Unveils The regime in North Korea has managed to steal more cryptocurrency last year than in previous years, acc