Exchanges

14/02/19 12:20 UTC-4

Coinbase Exchange paid $ 30,000 for vulnerability detection

Coinbase crypto-exchange paid $ 30,000 for detecting an error
Coinbase crypto-exchange paid $ 30,000 for detecting an error

The Coinbase cryptocurrency exchange paid a reward of $ 30,000 in the framework of the "Search for a critical system error" project,  as reported by The Next Web news agency.

On February 14, The Next Web edition released the news that the cryptocurrency exchange from San Francisco, Coinbase, paid almost $ 30,000 to HackerOne. As is known, the latter specializes in eliminating errors and programming bugs, vulnerabilities of platforms and software. According to the information on the HackerOne website, the service serves more than 1,000 companies, including Twitter, Slack, Adobe, Yahoo, LinkedIn, VKontakte, Airbnb.

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Coinbase errors and HackerOne service

HackerOne was the first in the world to use the services of hackers to detect vulnerabilities in the system. HackerOne run on the Bug Bounty platform. Through this online platform, hackers pay rewards for finding bugs, problems, failures and vulnerabilities in customer project systems.

Earlier, Coinbase has already paid hackers from HackerOne several times. The "fees" ranged from $ 100 to $ 1,000. The largest reward of $ 30,000 was transferred to the Bug Bounty platform on February 12th.

The Next Web news agency, which communicated with Coinbase representatives, did not report specific details of the error on the exchange. Although representatives of the exchanger reported that the vulnerability was successfully eliminated on the day of detection.

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"The HackerOne Bug Bounty platform serves as the main mission of Coinbase, helping us to be the most reliable way to work with cryptocurrencies (...) Based on this, the scope of assistance provided by Bug Bounty: personal information protection and wallet protection" – from the Coinbase statement.

Coinbase crypto-exchange paid $ 30,000 for detecting vulnerabilities. According to previous exchange statements, Coinbase offers a reward at four levels: $ 200 (low), $ 2,000 (medium level), $ 15,000 (high) and $ 50,000 (critical level). As a result, Tuesday’s payouts indicate an error between high and critical levels of difficulty.

Editor: Alyona Nabok

See also: "5 cold wallets of QuadrigaCX exchange was revealed"

#cryptocurrency #exchange #Coinbase #mistake #vulnerability #HackerOne #BugBounty

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