Coinberry crypto exchange clients misappropriate 120 BTC due to a software error
The vulnerability in the platform appeared as a result of an update in 2020
09.09.2022 - 13:30
345
2 min
0
What’s new? Canadian cryptocurrency exchange Coinberry has filed a lawsuit against 50 clients who withdrew 120 BTC (~$2,5 million at the current rate) from the platform. This happened after a bug in the Interac e-transfer software update. Cryptocurrency exchange Binance is also named in the lawsuit because it was used by several clients to transfer 9,48 of the misappropriated BTC, CoinDesk reports, citing court documents.
What else is known about the lawsuit? On April 13, 2020, the exchange implemented an update that appeared to contain a vulnerability. As a result, Coinberry’s system was receiving notifications of e-transfers in Canadian dollars (CAD), even though no money was actually received.
More than 500 Coinberry clients reportedly took advantage of the vulnerability, with 37 BTC returned after the platform requested it. The exchange has also contacted Binance, the lawsuit says.
Coinberry was founded in 2017 in Toronto. The co-founder and CEO of the exchange is Andrei Poliakov. Coinberry is registered with the Ontario Securities Commission (OSC). In July 2022, crypto exchange WonderFi, whose investors include FTX CEO Sam Bankman-Fried and Canadian entrepreneur Kevin O’Leary, bought Coinberry for $30 million.
In May 2021, the Crypto.com exchange accidentally transferred $10,5 million to a woman from Australia instead of refunding $100. The error was discovered during an audit seven months later. According to the representative of the exchange, the customer’s account number was mistakenly entered in the payment field. With the money received the woman bought a mansion, the court ordered the property to be sold, and the money returned to the exchange.
Useful material?
Telegram 
Twitter Technologies
Network fees will be integrated into the cost of swaps
Nov 22, 2024
Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Cryptocurrency rates
-
Bitcoin
$98 189
BTC
-0.14%
-
Ethereum
$3 383.61
ETH
-0.94%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.45
XRP
+0.25%
-
Dogecoin
$0.424915
DOGE
-2.12%
-
Cardano
$1.04
ADA
-1.5%
-
Stellar XLM
$0.52609
XLM
-5.79%
-
Polkadot
$9.08
DOT
+0.65%
-
Bitcoin Cash
$512.32
BCH
+0.04%
-
Litecoin
$96.75
LTC
-3.82%