User Lost Nearly $ 100,000 Due to Multisig Code Error in Bitcoin SV
An error occurred on the Bitcoin SV network
User lost almost $ 100K due to this vulnerability
Bitcoin SV remains a problem coin
International consortium of news organizations developing transparency standards.
Hacker found error in Multisig script in Bitcoin SV blockchain with multiple signatures and stole user’s money.
Script scripts remain unsafe
The exploit was reported by Blockstream co-founder Gregory Maxwell. He also shared a message from crypto expert Ruben Somsen, who was one of the first to identify the vulnerability..
“BSV dropped P2SH from their consensus rules a while ago. As a result, they had to create their own multi-signature scheme on their own. I assume they use key hashes instead of pubkeys, because without P2SH these scripts get terribly large and account for every byte saved, “Somsen wrote on Reddit..
As cryptographer Adam Beck explained, the mistake was using the less than or equal rule instead of greater than or equal to the number of signatures in a multisignature, which led to an exploit..
One of the cryptocurrency holders has already announced that he has lost 600 BSV (about $ 97 thousand dollars) due to this vulnerability. According to Aaron Zhu, using the multisig battery function in ElectrumSV 1.3.7 is not safe. It cost him almost $ 100,000. He shared his story on Twitter and in his blog.
STOP using multisig accumulator feature in ElectrumSV 1.3.7 immediately. Script “0 0” can unlock directly. Someone stolen 600 BSV of mine. https://t.co/ADwqrmDK94
– Aaron Zhou (@dailyzhou) November 8, 2020
According to him, he tried to withdraw six UTXOs (Unspent Transaction Output or cryptocurrency balances received from each transaction) of 100 BSV each, but the hacker exploited the vulnerability of the script and withdrew all the money to the account 1LcKTzSzpMAwH4bzymGSkbhY2EBpmT7n5J.
Bitcoin SV is still vulnerable
The Bitcoin SV blockchain has succumbed to hacker attacks in the past. For example, in March of this year, an unknown miner (or mining pool) with the help of garbage blocks littered the blockchain network of the Bitcoin SV (BSV) cryptocurrency.
So, according to the statistics of verified blocks on the Coin.dance service, an unknown miner has accumulated 675 PH / s over the past ten days.
Using Default Credentials | P1 Vulnerability | Bug Bounty | Cyber Security
It is noteworthy that over the past day, the miner has increased the power to 1535 PH / s. At the same time, the overwhelming majority of blocks do not carry absolutely any value of the blockchain network and are a set of random symbols.
Also note that Bitcoin SV can be used today as a means of payment. BeInCrypto editors have chosen the top 5 most interesting products that can be bought for crypto coins.
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