Error in code Coinbase enables users to receive free ETH

The largest cryptocurrency exchange in USA Coinbase in February gave the Tax office information about 13 thousand users. The regulator has received the names, dates of birth and transaction history of the customers of the platform in the investigation of cases of tax evasion. Now the exchange was at the center of a new scandal. In smart contracts, discovered a vulnerability that allowed users to transfer your balance to an unlimited number of tokens, Ethereum.

Cryptocurrency without investment

The vulnerability was discovered by employees of the Dutch FINTECH company VI Company. According to them, to manipulate personal balance by using a smart contract for Ethereum transmission on multiple wallets.

If one of the internal transactions within a smart contract does not pass, the preceding transactions are reversed. But these transactions are not cancelled for Coinbase, and then someone can transfer your balance to any amount of air. After such transaction at Coinbase crypto tools are not visible, but they appear in the wallet.

As noted by The Next Web, the company gave Coinbase the error in December 2017. Problem was fixed only a month later, employees of the Company VI received 10 thousand dollars as a reward.

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0 Comments on “Error in code Coinbase enables users to receive free ETH”

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