Coinbase lost approximately $300000 during the exchange contract interaction with the 0x project According to a report by Golden Finance, security researchers stated that Coinbase lost approximately $300000 in accumulated token fees due to configuration errors in the exchange contract with the 0x project. On Wednesday, X platform user "deeberiroz" (a security researcher at Venn Network) reported that Coinbase had interacted with a "smart contract" of the decentralized peer-to-peer exchange 0x, which was not intended for token authorization. The 'switch' provided by the 0x project is a contract used to perform exchange operations. This contract does not require permission, anyone can call it to perform any operation, and is not subject to ownership restrictions. But it is not designed to receive token authorization, as doing so may put funds at risk. The researcher stated that this setup had previously caused known issues involving Zora's airdrop claims on the Base Layer 2 network.