Researchers find over 40 bugs in Coinbase, Monero, EOS and more

Security researchers have discovered more than 40 vulnerabilities in the past month in several cryptocurrencies. This is according to a report by tech publication, The Next Web. They found the vulnerabilities in over 13 crypto and blockchain companies, Coinbase (NASDAQ: COIN) and EOS among them.

Fortunately, none of the bugs appear serious. 

Between February 13 and March 13, white hat hackers found 43 bugs in total. The hackers, who attempt to hack platforms to find out if they are vulnerable, received $23,675 for their efforts. This is according to a report on Hacker One, a vulnerability coordination and bug bounty platform.

The researchers found the most bugs at Unikrn, the Las Vegas-based e-sports company. The company, which has a crypto known as Unikoin Gold, had 12 bugs. OmiseGo came in at a distant second with half the number of bugs at 6. EOS developer Block.One came in third with 5.

Blockchain consensus protocol Tendermint, which raised $9 million in funding just days ago, had five bugs. Decentralized prediction market Augur followed with three, as did Tezos. ICON, Monero and MyEtherWallet all had two bugs each.

Coinbase, Brave Software, Electroneum and Crypto.com all had one bug each during this period.

The researchers earned $23,675 for their work. However, in only 36 instances of the 43 did they mention the value of the bounty reward. In the other seven, they didn’t disclose the value of the bounty, or if any was awarded at all.

Tendermint parted with the highest amount in bounty rewards, rightly so as it had the highest number of bugs. The company, which is currently developing the Cosmos Network, gave out $8,500 to the researchers. 

EOS awarded $5,500 for the five bugs fund on its platform. In February, the project awarded researchers $50,750 for finding eight bugs on its platform. Five of the bugs were considered as critical vulnerabilities, with each being eligible for a $10,000 reward. This was just a continuation of a trend that started last year. In 2018 alone, EOS awarded over $500,000 to researchers in bug bounties, the highest by a mile in the crypto industry.

Hacker One doesn’t disclose the specifics of the bugs. This makes it almost impossible to assess the extent to which the bugs affected the various systems. However, according to the report, the low bounties indicate that the vulnerabilities weren’t a huge cause of concern for the victims.