Coinbase launches $ 5 million in a bonus on Cantina star-news.press/wp

Evolution journalist

Good people

Evolution journalist

Good people

About the author

Anas is a journalist from the original Crypto, search engine writer and has more than five years of writing experience that covers Blockchain, Crypto, Defi and emerging technology.

Involve

Last update:

July 9, 2025

Why confidence cryptonews

Cryptonews has covered the subjects of coded currency since 2017, with the aim of providing useful visions to our readers. Journalists and analysts have extensive experience in market analysis and Blockchain technologies. We strive to maintain high editing standards, focusing on realistic accuracy and balanced reports in all fields – from encrypted currencies and Blockchain projects to industry events, products and technological developments. Our continuous presence in the industry reflects our commitment to providing relevant information in the world of advanced digital assets. Read more about Cryptonews

Coinbase launched the Bug Bounty program worth $ 5 million at Cantina, targeting its products on the series and smart contracts for the basic network, which represents one of the largest Web3 safety initiatives so far.

the program It comes at a time when the foundation is gained mainly with the launch of JPMorgan’s distinctive symbol of JPMD Digital DePosit and a USDC store in 34 countries.

The base has emerged as a favorite Blockchain for institutional adoption, with the choice of JPMORGAN Layer-2 for the JPMD code due to its partially decentralized structure and the governance of the Security Council.

Bug Bounty is based on previous structural security reviews between Coinbase and Cantina, which covers important components, including verified gatherings, error-resistant reviews, nitro fenced, webauthn units, and the logic of valid validation of ERC-6492.

Web3 safety experts will evaluate each presentation with rewards based on cloning and technical effect.

The basic network leads the Blockchain institutional adoption

JPMD’s distinctive icon from JPMD is the largest step for Banking Giant in Blockchain’s public technology, enabling institutional customers to quickly and safely transfer money over 24/7.

The fully -backed dollar deposit code is characterized by decentralized Stablecoins such as USDT or USDC through its permissible structure, which was designed for institutional compliance and organizational control.

He talks to Cryptonews and Jesse Pollak, the primary creator and vice president of Coinbase Engineering, on the institutional advantages of the network:

“BASE Settlement without the sub -center offers around the clock throughout the week, making money transfer operations among JP Morgan institutions almost immediately.”

“It takes seconds to transfer the funds of ONSAIN, instead“Lauren Evening Certificate, Vice President of Institutional Sales at Coinbase, any addition.

Moreover, the Shopify USDC integration through Shopify payments and salary stores represents another important milestone in the prevailing adoption, allowing millions of merchants in 34 countries to accept Stablecoin’s payments directly.

The promotion of the trade – -built trade protocol treats the complications of traditional encryption trade through the advanced guarantee structure that supports permission, capture, and recovery.

The protocol prohibits operators from modifying payment intentions through encryption mechanisms while providing the possibilities of recovering automatic funds.

The transaction fees usually remain less than $ 0.01 compared to traditional payment networks, with settlement times up to 200 milliliters across the international borders.

Discussing the adoption of the main distinctive symbol, the Speaker of the Securities Council, Paul Paul Atkins, recently announced the distinctive symbol.

It was called the “next step” for the efficiency of the market, noting that “the road rules were not clear” to regulate digital assets.

This will come at a time when the real world asset icon has risen by more than 260 % ​​in H1 2025, with a $ 30 trillion global symbolism market estimated.

Security challenges highlight the dangers of critical infrastructure

The latest development of Coinbase’s latest data, which includes support staff abroad, follows bribery and who leaked information about approximately 70,000 users, which led to a $ 20 million ransom request to refuse the stock exchange.

Instead, Coinbase has created a 20 million -dollar bonus of information that leads to the arrest of the attackers.

The accident, which was first discovered in January, was discovered, but was publicly discovered in May, names, communication details, disguised social security numbers, and the government’s identity pictures of about 70,000 users.

More than 200 employees of Taskus employees were completed after investigating the breach, as the perpetrator of the primary perpetrator caught the photography of her computer using a personal mobile phone.

The stolen data included the history of transactions, account balances, and internal documents within the reach of support agents; However, the attackers did not get passwords or special keys or access to the wallet.

Coinbase’s response included the establishment of a customer support center in the United States and the implementation of improved internal threat detection systems on all service sites.

The company has pledged to pay the retail customers who were deceived by social engineering tactics with the implementation of additional security protocols and fraud awareness.

The financial repercussions, according to estimated estimate, may cost Coinbase between $ 180 million and 400 million dollars, with lawsuits for the investor for great losses from misleading data.

The breach occurred during a central period for Coinbase, coinciding with its acquisition of Deribit and its inclusion in the S&P 500.