Kraken hacked?!

[dkbit98]

Here is one more example why you should never hold any coins on centralized exchanges, even when they appear to be very secure.
Kraken exchange announced they have been attacked because of a bug in code, that resulted in stolen coins and hacker is now trying to extort them for $3 million.
https://cointelegraph.com/news/kraken-claims-extortion-bug-bounty-report

Kraken Chief Security Officer posted this on twitter:

In the essence of transparency, we are disclosing this bug to the industry today. We are being accused of being unreasonable and unprofessional for requesting that “white-hat hackers” return what they stole from us. Unbelievable.

https://x.com/c7five/status/1803403632689189154

I hope people learn some lesson from this.

[Charles-Tim]

I hope people learn some lesson from this.

Recently, did you read the replies of some people on this forum and Bitcointalk about staking and ways to earn money on centralized exchanges. Some of them do not even know that they can stake their coins on noncustodial wallet. Some even post about how they are making money from lending on the exchanges. Another one is the launchpool or whatever it is called. These are some of the ways the exchanges have lured people to have their coins on the exchanges. Some people will never learn.

[dkbit98]

Recently, did you read the replies of some people on this forum and Bitcointalk about staking and ways to earn money on centralized exchanges. Some of them do not even know that they can stake their coins on noncustodial wallet. Some even post about how they are making money from lending on the exchanges. Another one is the launchpool or whatever it is called. These are some of the ways the exchanges have lured people to have their coins on the exchanges. Some people will never learn.

Nothing new about that, intelligence of people is declining rapidly, but I don't think that Kraken was one of the exchanges that wanted to lure people into anything.
I have respect for Kraken for keeping Monero listed for so long, but nobody should trust any centralized exchanges to hold coins there long term, or to earn some silly interest.

[Z-tight]

I hope people learn some lesson from this.

I hope they will too, but i am sure they won't. Thank you for sharing this here, i didn't see any news about this, even though it happened weeks back, and i don't think i saw a post about it on bitcointalk, or maybe i missed it.

This is an addition to the many events that should teach people a lesson not to store their coins in a centralized exchange, but there would always be more victims when another exchange gets hacked or collapses.

[Charles-Tim]

I hope they will too, but i am sure they won't. Thank you for sharing this here, i didn't see any news about this, even though it happened weeks back, and i don't think i saw a post about it on bitcointalk, or maybe i missed it.

Maybe you are not that active on the exchange board on Bitcointalk. I do not think such news will come out and take more than a day before it will get to Bitcointalk. It is always taking less than a day.

This is a thread about it on Bitcointalk which was where I first saw it: Kraken - $3 million stolen

[Z-tight]

This is a thread about it on Bitcointalk which was where I first saw it: Kraken - $3 million stolen

Oh, thanks for sharing this, i knew there was a high chance i missed it, like i said earlier.

Is there any new update on the situation, Kraken said no users funds was stolen and that the money was stolen from their treasury when the 'attacker' found a bug in the system. However, the attacker is trying to extort money from Kraken before returning the funds, according to the news. It is rather interesting, and i would like to see what happens from here, and can this truly be called a white-hat hacking or is it extortion, like Kraken calls it.

[Charles-Tim]

Is there any new update on the situation, Kraken said no users funds was stolen and that the money was stolen from their treasury when the 'attacker' found a bug in the system. However, the attacker is trying to extort money from Kraken before returning the funds, according to the news.

If a hacker was able to steal coins from an exchange or any other online site and proved it to be a vulnerability, the exchange or the site have certain percentage that they would pay to the hackers. Or they will have an agreement. The hackers are not extorting anything from them but they should reach an agreement with the hackers.