The cryptocurrencies trading platform, Coinbase, would have been presenting a vulnerability in its network that, had it been revealed to the public, could have turned more than one into a crypto billionaire. This strange event was due to a recent configuration error in the exchange house, which allowed users to reward themselves ethers in an unlimited way.
The bug was identified by the Dutch company VI Company, who found the bug in December 2017. Today it is known, thanks to the vulnerability report made by VI Company through the HackerOne portal, that Coinbase suffered an error that allowed users to collect infinite amounts of ethers going unnoticed.
The document states that, normally, if an intelligent contract fails at the time of an inappropriate transaction (in this case, an incorrect address among several correct ones within the contract), the transactions are reversed immediately. However, in the case of the portfolio hosted at Coinbase, the transactions were not reversed, allowing customers to manipulate their Coinbase account balance.
"If one of the internal transactions in the smart contract fails, all previous transactions will be reversed. But at Coinbase, these transactions will not be reversed, which means that someone could add as many ethers to your balance as they wish. When you search for the Coinbase wallet address after this transaction, you will see that it is empty, but checking your Coinbase wallet will show your funds."
VI Company
The firm provided screenshots detailing how the platform bug could be checked. In this sense, the experts transferred funds from a defective wallet with few cryptocurrencies, executed the smart contract by adding a set number of ethers and then repeated the action several times until they had more ethers than they actually had to trade.
Company VI has not been able to determine whether any of the Coinbase users could use this error to earn unlimited money. However, it has been noted that anyone who accessed the network to exchange ethers was exposed to this vulnerability.
Today this error is being solved, as the exchange company managed to remove the bug last January.
As a thank you for the information reported, Coinbase rewarded the Dutch company with $10,000.
Source: www.criptonoticias.com
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good work friend
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Thanks my friend @gohain
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Wish someone would make me an ether billionaire and not just a computer glitch. :)
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I would have known about this bug and obviously would have been tempted to take advantage of it... But you have to be fair.
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damn us and our high moral standards. LOL
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Always at the wrong place at the wrong time.
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Hahaha, right. Something like this happened on a Korean exchange, I think. For 20 minutes the price of the bitcoin was at $0 because of a platform error, and there was one person who wanted to buy 20 billion dollars of bitcoins... But he obviously didn't realize that the capitalization of the bitcoin doesn't go up to that amount, so it's impossible hahaha.
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Interesting. I would of chosen a smaller number that's for sure.
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Right.... If he had, maybe he could have gotten something out of it.
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The truth doesn't even know if anyone took advantage of this bug or not...
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