Bitcoin News Is Not For Sale

Please don’t skip this message — it only takes a few minutes to read. Sorry to bother you, but time is running out.

Bitcoin is freedom. If you think independent media that is bitcoin-only is important, if you believe information and education about bitcoin matters for adoption, and if you have gained something from our work, we would be grateful if you could chip in $21. 

Join the 2% of our readers who occasionally make a donation. If everyone reading this donated just $21, we would reach our target in a couple of hours. $21 won’t break you, we hope.

To cover the cost for our servers, editors, writers, and thumbnail artists we rely on our readers’ generous support. 

How You can chip in:

  • Send sats as a tip to a writer. Each and every one of our writers has an active tipping widget.
  • Join our campaign on Awesome perks are waiting for you such as the Bukele Blend Coffee.

Your support ensures that Bitcoin News stays independent with a laser focus on Bitcoin and only Bitcoin.

Funding Progress

Startups Pay Out $878,000 For Ethical Hackers’ Fixes in 2018

written by

Startups Pay Out $878,000 For Ethical Hackers' Fixes in 2018

Support free journalists: > send a tip

It has been revealed that cryptocurrency startups paid out over $878,000 in bounty to friendly hackers for solving bugs in 2018.

The so-called ethical hackers were hired due to a variety of vulnerabilities in start-up platforms’ cybersecurity protocols. About 60 percent of the 2018 total was paid out by, the company behind EOS, with a sum reported to be around $534,500. The EOS token offering originally raised nearly $4 billion.

Cryptocurrency exchange giant Coinbase paid for white hat hacker services, parting with $290,381 in bounties. Tron also paid out $76,200 to tech problem solvers, demonstrating that even some of the larger, more secure companies still remain vulnerable. Altex, a smaller cryptocurrency firm was also bug stricken in August, although the company has not revealed the amount of funds lost. This was suggested to have been due to Monero code base related bug.

In July, SlowMist, a Chinese cybersecurity firm, claimed that an anonymous user managed to double spend 694 Tether (USDT), gaining credit for 694 USDT on an exchange without sending the funds. The founder of the Omni Protocol, which Tether is based on, wrote:

“It appears that what happened here is that an exchange wasn’t checking the valid flag on transactions. They accepted a transaction with valid=false (which they should not have), and then the second “double spend” transaction had valid=true, which they also accepted.”

The need for such support and fixes illustrates the degree to which the cryptocurrency industry still has much work to do to build failsafe protection for startups and cryptocurrency related companies.

Follow on Twitter: @BitcoinNewsCom

Telegram Alerts from

Want to advertise or get published on – View our Media Kit PDF here.

Image Courtesy: Pixabay

Help spread this article :) is NOT INVESTMENT ADVICE

Opinions expressed are entirely their own and do not necessarily reflect those of

For informational purposes only. Individuals and entities should not construe any information on this site as investment, financial, legal, tax, accounting or other advice. Information provided does not constitute a recommendation or endorsement by to buy or sell bitcoin, cryptocurrencies or other financial instruments. Forecasts are inherently limited and cannot be relied upon. Do your own research and consult a professional advisor. The opinion of authors do not reflect those of 


Read More Bitcoin News


Join our Newsletter


Latest on Bitcoin News

Video of the Week

Join our Newsletter