Kraken claims they are being 'extorted' when white hat hackers demand a reward after a $3 million heist

The case involving Kraken and CertiK reveals the complex relationship between cryptocurrency exchanges and security companies that want to be identified as “white hat” hackers. This situation also made us realize that our industry needs clearer protocols for responsibly disclosing vulnerability reports. 

Kraken CSO Nick Percoco criticized the move as blackmail rather than ethical hacking. Despite the controversy, Kraken reassured users that no customer funds were affected. CertiK, the security company behind the hack, claimed their actions were part of a white-hat operation, but the situation has sparked a heated debate about the ethical boundaries of cryptocurrency security. , as well as the risks associated with centralized exchanges. 

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