🔍🐞 A self-proclaimed security researcher found a bug in Kraken's system, leading to an unauthorized withdrawal of over $3M. This wasn't a white-hat hack, but an extortion attempt, says Kraken's CSO.
🚀💪 Kraken's security team acted swiftly, fixing the vulnerability in 2 hours, ensuring no user funds were at risk. The bug was linked to a recent update aimed at enhancing user experience.
🚫💰 The extortionists demanded a reward, claiming ethical hacking. Kraken refused, labeling it as extortion. The stolen funds were from Kraken's treasury, not user accounts, emphasizing Kraken's commitment to user protection.
🔒🔬 In response, Kraken is reinforcing its security protocols, working with law enforcement, and reviewing its bug bounty program. This incident underscores the need for stricter protocols and clearer guidelines in the crypto industry.
🌟🛡️ Kraken's handling of this breach showcases its resilience and dedication to security. As the industry evolves, robust security practices and ethical standards will be crucial in maintaining trust and integrity. #CryptoNews #Kraken #SecurityBreach