KeyVendor.net, a bot for trading bitcoin keys used by the Steam entertainment platform, was not able to pay some customers their bitcoin a few days ago on account of a glitch at Coinbase, according to a notice KeyVendor posted on steamcommunity.com.
The problem has been resolved, and KeyVendor paid everyone their missing bitcoin an extra 10% for the inconvenience, totaling about $210 extra.
Coinbase was exploited and keys and bitcoin were stolen from the KeyVendor bot, totaling $15,000. Coinbase handled the problem within two days, according to Key.Vendor.net.
Coinbase Took Responsibility
According to “Jambo,” referred to as the owner of KeyVendor.net on steamcommunity.com, Coinbase took responsibility for the exploit so that neither KeyVendor nor its users suffered any financial loss.
The incident marked the first time KeyVendor failed to deliver instant payments for keys. A total of six users did not receive payments on time.
Jambo noted in announcing the loss that users’ money and keys stored on KeyVendor was not at risk. Jambo promised to make good on any possible losses.