Not to be White Hat hacker, America’s largest crypto exchange Coinbase would once again face a serious danger.
Coinbase can thank the white hat hacker
White Hat hacker, known by his nickname Tree of Alpha saved Coinbase from the potential misuse of its platform Advanced Trading. The hacker called on Coinbase, led by CEO Brian Armstrong, to take important steps urgently, otherwise they would face a serious third-party attack.
Anyone here can get me a direct line with someone at @coinbase , preferably management or dev team, possibly @brian_armstrong himself?— Tree of Alpha (@Tree_of_Alpha) February 11, 2022
I'm submitting a hacker1 report but I'm afraid this can't wait. Can't say more either, this is potentially market-nuking.
Just a few hours after the post on Twitter, the exchange decided to suspend trading on its Advanced Trading platform for technical reasons. The hacker subsequently praised them for their very quick response. Brian Armstrong in the end, he thanked the hacker for his help.
.@Tree_of_Alpha you're awesome – a big thank you for working with our team— Brian Armstrong – barmstrong.eth (@brian_armstrong) February 11, 2022
love how the crypto community helps each other out!
The Advanced Trading platform is currently still in the testing phase only. According to the hacker, this particular mistake could cause very serious problems for the exchange. All the books in the orders could be manipulated and misused by malicious hackers.
Two hours after the stop, the platform was restored and fully functional for retail trading.