[2015-12-22] Bitcoin Exchange Coinbase Comes Clean on Bounty Controversy

[elyas772]

Bitcoin exchange Coinbase has posted a comprehensive response to the recent bounty controversy. Yesterday, we first reported that the bitcoin exchange had surprisingly banned a user who helped them fix a vault bug that saved the San Francisco-based company from potential losses of millions of dollars.

Rob Witoff of Coinbase discussed the Company’s bug bounty program, which calls for a minimum of $100 reward for bringing coding bugs and possible exploits to notice. There is no higher end to the rewards as of yet, but identifying and demonstrating how Remote Code Execution vulnerability can be exploited leads the pack with a bounty of $10,000. The bitcoin exchange revealed that it has paid a total of $103,801 in bounties since beginning the program in 2013, and is even looking forward to expanding this program.


http://www.newsbtc.com/2015/12/22/bitcoin-exchange-coinbase-comes-clean-on-bounty-controversy/

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[TraderTimm]

Needs proper date formatting to fit into the News section.

Thanks...

[Kprawn]

They would cut their own face, if they ban "White hack" hacker's accounts... these people are doing them a favor and saving them millions in possible losses and/or fee's they

would have had to pay, if they had to hire security experts to identify and solve security issues. The $10 000 maximum bounty is a mere drop in the ocean, compared to what

they might have lost, if these vulnerabilities got exploited.