Kraken Resolves Bug Bounty Dispute and Recovers Funds

Kraken Recovers Funds in Bug Bounty Dispute

Crypto exchange Kraken has recovered nearly $3 million from security firm CertiK, following a disagreement over a reported vulnerability.

The incident stems from June 9th, when CertiK, acting as a "security researcher," discovered a flaw in Kraken's system. CertiK then exploited the bug to withdraw funds, claiming it was testing security limits. This resulted in nearly $3 million being minted over several days without triggering any alerts.

Disagreements arose when CertiK never initially requested a bounty, as is typical in bug bounty programs. Kraken interpreted this as an extortion attempt. Thankfully, both parties reached a resolution, with Kraken recovering the funds minus transaction fees.

This incident highlights the importance of clear communication in bug bounty programs. Both researchers and companies need to establish expectations upfront to avoid misunderstandings and ensure the security of the platform.

Woof! Dogecoin Gets Bearish as Meme Coin Frenzy Fades

Dogecoin, the king of meme coins, is facing a ruff time. Short sellers are circling, as shown by negative funding rates, which haven't been this low since October 2023.

This isn't great news for the meme coin sector as a whole. Funding rates reflect trader sentiment and negative rates indicate a "bearish" market, meaning traders expect prices to fall. To make matters worse, Dogecoin itself has dropped 12% in the past week, wiping out all its gains since March.

What's causing the downturn? It seems the wider crypto market is to blame. Bitcoin (BTC), the big dog of all cryptocurrencies, has been slumping recently due to several factors: large investors selling off billions, money flowing out of crypto ETFs, and a strengthening US dollar.

So, is this the end of the doge days? It's too early to say. But for now, Dogecoin is feeling the heat, and it might be a while before it sees the moon again.

Bitstamp Unleashes the BONK: Popular Meme Coin Now Available for Trading

Calling all meme coin enthusiasts! Bitstamp, a leading European exchange recently acquired by Robinhood, has officially listed Bonk (BONK) for trading.

This means you can now buy and sell BONK directly on Bitstamp's platform, including through their convenient mobile apps. The exchange will offer two trading pairs: BONK/USD and BONK/EUR, allowing global users (except those in the US and Singapore) to jump on the BONK bandwagon.

BONK rose to fame in 2023 as part of a meme coin surge that propelled the Solana blockchain. With its arrival on Bitstamp, BONK's visibility and accessibility are set to increase even further.

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