CertiK faced threats from Kraken

CertiK faced threats from Kraken

user avatar

by Eve Adams

2 years ago


Experts from the company CertiK, specializing in blockchain security, identified several critical vulnerabilities in the centralized exchange Kraken. They reported that these vulnerabilities could lead to losses of hundreds of millions of US dollars (USD). Additionally, the specialists stated that representatives of the exchange threatened them. The experts pointed out a vulnerability in the deposit system.

The CertiK team conducted a thorough investigation into three main issues: the possibility for an attacker to fabricate a deposit transaction, withdraw fake funds, and the risk control and asset protection measures activated when requesting a large sum transfer.

Based on our analysis, the Kraken exchange failed the tests, indicating that the security system is compromised in several areas. Millions of dollars can be deposited into any account. A vast amount of fabricated cryptocurrencies, even worth more than $1 million, can be withdrawn and converted into other assets. During several days of testing, not a single alert was generated. Kraken responded and blocked our test accounts only a few days after we officially reported the incident, stated CertiK.

After CertiK notified Kraken of the issues, the exchange's security service classified the incident as «critical», the highest level of danger for the platform.

In the spirit of transparency and commitment to the Web3 community, we publicly disclose this issue to protect the security of all users. We also urge Kraken to stop threatening white hackers, stated CertiK representatives.

Despite resolving the issue, Kraken's security team threatened individual CertiK employees, stating they would not pay the due reward. Furthermore, Kraken did not specify the transfer deadlines and did not request addresses for sending the reward.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Winklevoss Asset Services Submits S1 for Zcash ETF

Winklevoss Asset Services has filed an S1 registration statement with the SEC for the Winklevoss Zcash ETF, aiming to provide direct exposure to ZEC.

user avatarKofi Adjeman

Kraken Pro Launches PreIPO Challenge for Oura and Moonshot Perpetual Futures

Kraken Pro has launched a trading competition for perpetual futures linked to Oura and Moonshot, running from October 6 to November 6, with a $10,000 prize pool based on trading volume.

user avatarNguyen Van Long

OpenAI Releases 722 Math Manuscripts, Sparking Debate

OpenAI has released 722 math manuscripts on GitHub, generated by an internal AI model, sparking both excitement and skepticism in the mathematics community.

user avatarSatoshi Nakamura

Polymarket Begins Testing Protocol V2 for Prediction Markets

Polymarket has begun live testing of Protocol V2, a major update to its prediction market infrastructure, aiming to simplify interactions and support various market types.

user avatarJesper Sørensen

Ethereum ETFs Face Major Withdrawals Amid Bitcoin Inflows

On October 6, US spot Ethereum ETFs recorded $2019 million in net outflows, while Bitcoin ETFs saw $1188 million in net inflows, indicating a shift in investor sentiment.

user avatarRajesh Kumar

Binance Expands Collateral Options with Four New bStocks

Binance has recently added four bStocks tokenized securities as eligible collateral for its margin products, enhancing the integration of traditional equities and crypto assets.

user avatarFilippo Romano

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.