Tag: Nick Percoco

FinTelegram Report: Kraken Accuses Security Researchers of Extortion Over $3M Bug Exploit!

Crypto Compliance Ben - June 20, 2024

The U.S. crypto exchange Kraken is embroiled in a controversy after alleging that "security researchers" exploited a platform vulnerability to withdraw nearly $3 million from its treasury and subsequently turned to extortion. Nick Percoco, Kraken's Chief Security Officer, disclosed via social media platform X that a bug enabled a malicious attacker to initiate a deposit and receive funds without completing the deposit process.

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