$3M Kraken Bug: Ethical Hacking Gone Rogue 💥

Kraken Hit by Hackers

Kraken, a top crypto exchange, is grappling with a white-hat hacking gone wrong. Hackers found a bug and siphoned off $3M. Instead of returning the funds, they’re demanding Kraken pay damages. Kraken swiftly involved law enforcement and made the incident public.

The Bug Bounty Backfire

A security flaw in Kraken's UX allowed users to inflate balances and withdraw from the treasury without actual deposits. Despite quick action, the hackers had already pocketed $3M. This raises questions about ethical boundaries in white-hat hacking.

Kraken's Chief Security Officer, Nick Percoco, stated the firm is

treating this as a criminal case.

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