Millions of Dollars Were Stolen from the Cryptocurrency Exchange in This Way

Millions of dollars were stolen from Kraken, one of the world's largest cryptocurrency exchanges.

According to analysis by blockchain security firm CertiK, there is a security vulnerability in Kraken.

Millions of dollars were stolen

CertiK's security team has identified a vulnerability in Kraken that allows users to generate tokens out of thin air. To prove this to the Kraken team, researchers stole a large amount of cryptocurrency.

According to the statement made by CertiK, all of the stolen cryptocurrencies were returned. These include 734.19 Ethereum, 29,001 USDT, 1,021.1 XMR.

The problem's been solved

According to the statement made by CertiK, although approximately three million dollars worth of crypto money was stolen from Kraken, no alarms were raised. CertiK announced that they still haven't found out what the upper limit is.

According to CertiK's statement, Kraken's security team stated that they fixed the problem 47 minutes after receiving the notice.

Nick Percoco, Kraken's chief security officer, said that the issue was due to user experience (UX) and that no exchange users were at risk.

This vulnerability did not lead to the theft of money from users' accounts, but only to the printing of cryptocurrencies out of nowhere. Percoco, although not named, criticized the CertiK team's methods, saying they didn't need to steal as much money as almost $3 million.