Bug finder cashes in $30,000 for discovering a major vulnerability in Coinbase’s systems

Coinbase had to pay out a $30,000 bounty for a bug report entailing a high-profile flaw in their systems, The Next Web writes. The bug finder has submitted their discovery to the cryptocurrency exchange’s vulnerability disclosure program.

The Bug Bounty Program awards users for finding flaws within the cryptocurrency exchange’s systems, and awards different prize tiers based on the severity of the reported issue. “We determine severity based on two factors: impact and exploitability,” states Coinbase in the program’s terms. Tuesday’s report has seen the biggest bounty paid out by the company thus far, placing it in the middle of the two highest tiers of the reward system.

A Coinbase spokesperson confirmed that the issue has already been fixed, but declined to share the context of the flaw.