Hacker Helps Coinbase Fix Security Bug and Avert Potential Losses
A lone hacker has helped leading US crypto exchange Coinbase resolve a security flaw and sidestep potential losses.
The white hat hacker who goes by the pseudonym Tree of Alpha took to Twitter to ask their 19,500 subscribers if anyone could get them in contact with Coinbase developers to disseminate an urgent HackerOne report.
The hacker says they found something potentially “market-nuking.”
“Anyone here get me a direct line with someone at Coinbase, preferably the management or dev team, possibly Briant Armstrong himself? I’m submitting a HackerOne report but I’m afraid this can’t wait. Can’t say more either, this is potentially market-nuking.”
HackerOne is a bug-bounty platform used by many big companies and entities, including Toyota, Starbucks, Spotify, Nintendo and even government agencies such as the U.S. Department of Defense.
Tree of Alpha was able to get in contact with Coinbase representatives and fix the bug just one day later. The trading platform’s new Advanced Trading feature, which gives traders access to metrics and real-time market data, was temporarily shut down during this time.
The programmer says Coinbase’s quick response and willingness to work together averted a crisis.
“Advanced Trading is resumed, and I have verified that the exploit has been patched as recommended…Coinbase’s swift response avoided some serious company and market damage.”
Coinbase CEO and billionaire Brian Armstrong thanked the programmer for patching up the exploit and avoiding a potential meltdown.
“Tree of Alpha, you’re awesome – a big thank you for working with our team. Love how the crypto community helps each other out!”
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