
ZM | @WOTrust
440 posts

ZM | @WOTrust
@wotrust1
WOTrust - Blockchain validation and development services. Focused on #celo network. Tweets are personal opinions and not any kind of advice.










CertiK recently identified a series of critical vulnerabilities in @krakenfx exchange which could potentially lead to hundreds of millions of dollars in losses. Starting from a finding in @krakenfx's deposit system where it may fail to differentiate between different internal transfer statuses, we conducted a thorough investigation with three key questions: 1/ Can a malicious actor fabricate a deposit transaction to a Kraken account? 2/ Can a malicious actor withdraw fabricated funds? 3/ What risk controls and asset protection might be triggered by a large withdrawal request? According to our testing result: The Kraken exchange failed all these tests, indicating that Kraken’s defense in-depth-system is compromised on multiple fronts. Millions of dollars can be deposited to ANY Kraken account. A huge amount of fabricated crypto (worth more than 1M+ USD) can be withdrawn from the account and converted into valid cryptos. Worse yet, no alerts were triggered during the multi-day testing period. Kraken only responded and locked the test accounts days after we officially reported the incident. Upon discovery, we informed Kraken, whose security team classified it as Critical: the most serious classification level at Kraken. After initial successful conversions on identifying and fixing the vulnerability, Kraken’s security operation team has THREATENED individual CertiK employees to repay a MISMATCHED amount of crypto in an UNREASONABLE time even WITHOUT providing repayment addresses. In the spirit of transparency and our commitment to the Web3 community, we are going public to protect all users' security. We urge @krakenfx to cease any threats against whitehat hackers. Together, we can face risks and safeguard the future of Web3. #Web3 #Security #Transparency

Dear @coinbase , you have a rare, but very serious bug in your advanced trading system where it can lose track of funds in certain scenarios. Your @CoinbaseSupport is not capable of resolving this type of issue.






Breaking news: The largest US banks have banded together to deposit $30bn into regional bank First Republic on.ft.com/3yKs5Cj



I'M HEARING FEDERAL BANK REGULATORS are mad that "people warning each other about SVB" on Twitter exacerbated its bank run. But Twitter isn't the problem--risky banks are the problem. If Twitter rumors can bring a bank down in <48hrs, it was fragile. Regulators have work to do.




