• Kraken says it has mounted a bug that might result in inflated account balances
• The bug was found by a safety researcher whose account reportedly exploited the vulnerability to steal $3 million from Kraken's funds.

Kraken has introduced that its safety crew has mounted a bug that might have allowed sure customers to inflate their account balances on the alternate.

The announcement comes after Kraken revealed {that a} safety researcher recognized the vulnerability as a part of the alternate's bug bounty program.

“On June 9, 2024, we obtained a bug bounty program alert from a safety researcher. Whereas no particulars have been initially supplied, their electronic mail acknowledged that that they had discovered a 'extremely crucial' bug on our platform that could possibly be used to artificially inflate balances,” Kraken's chief safety officer Nick Percoco wrote in a put up on X.

$3 million stolen, not person funds

Particularly, the flaw allowed some customers to briefly “artificially inflate the worth of their Kraken account balances with out totally finishing their deposits,” the alternate stated in a weblog put up.

Kraken has since mounted the bug in its deposit and funding system and stated buyer funds weren’t affected.

Nevertheless, whereas the alternate has since mounted the person bug, the report comes after two customers had already exploited the vulnerability to withdraw $3 million from their very own accounts – accounts which might be reportedly linked to the identical safety researcher who recognized and reported the bug to Kraken.

An nameless particular person reportedly notified Kraken in regards to the bug after withdrawing $3 million.

Regardless of the massive quantity of funds withdrawn, safety researchers are nonetheless demanding to obtain their rewards, Percoco stated.

“We won’t disclose the identify of this investigation agency as a result of their actions should not worthy of reward. We’re treating this as a prison matter and dealing with regulation enforcement accordingly. We admire that this matter was delivered to our consideration, however that’s all,” Percoco added.