Lightning Network User Confused By Protocol: Lost 30,000 USD

Lightning Network User Confused By Protocol: Lost 30,000 USDThe Lightning Network has long been touted by its proponents as a speedy, low-cost solution to Bitcoin’s scaling issues. A series of security scares and UX issues have called that vision into question however. The latest LN slip-up saw a user lose 4 BTC in one fell swoop. Also read: Hidden Lightning Network Bug Allowed […]

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Hidden Lightning Network Bug Allowed Spending of ‘Fake’ Bitcoins

Hidden Lightning Network Bug Allowed Spending of 'Fake' BitcoinsA bug discovered in the Lightning Network in June, which allowed lightning bitcoins not backed by actual bitcoins to be spent, has officially been addressed in a new dev full disclosure report released on Friday. The problem has reportedly been remedied, but the security oversight casts doubts on an already heavily scrutinized protocol, and whether […]

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Bitcoin History Part 10: The 184 Billion BTC Bug

Bitcoin History Part 10: The 184 Million BTC BugThere was something unusual about Bitcoin block 74638. It was Core developer Jeff Garzik who first spotted it, commenting on the “quite strange” transaction outputs, which stood at 92233720368.54 BTC apiece. That wasn’t meant to happen. Within an hour, another forum user had started a thread titled “overflow bug serious” in which he implored “We […]

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Zcash Bug Demonstrates the Difficulty of Auditing Complex Cryptocurrencies

Zcash Bug Demonstrates the Difficulty of Auditing Complex CryptocurrenciesA recent counterfeiting bug in Zcash demonstrates that the added functionality of so-called second generation blockchains comes at a price. The vulnerability, which existed for years before being patched in October, could have been exploited to generate additional coins. As every major cryptocurrency since Bitcoin has demonstrated, added complexity corresponds with lower security. Also read: Australian […]

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The Daily: Critical Bug Found in Beam Wallet, Wirex Adds Another Cryptocurrency

The Daily: Critical Bug Found in the Beam Wallet, Wirex Adds Another CryptocurrencyIn Friday’s edition of The Daily, we cover the news about a vulnerability found in the Beam Wallet days after the launch of the Mimblewimble-based coin. Also, crypto card provider Wirex has added waves to its list of supported cryptocurrencies, and digital asset exchange Exmo has registered an increase in the number of Belarusian users […]

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