Coinbase Merchant Error Causes Major Exploit on Overstock

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overstock logoRecently, it was made public that retail giant had fallen victim to a huge exploit involving Coinbase’s merchant API. This is another issue on top of many others that customers and businesses have made apparent affecting the leading Bitcoin exchange. On January 5, independent researchers discovered a massive exploit in Overstock’s cryptocurrency payment gateway, which is offered through Coinbase’s merchant functionality. This exploit allowed Overstock customers to purchase items with Bitcoin Cash (BCH) instead of Bitcoin, which effectively resulted in an almost 85% discount. The even greater issue that emerged was the ability to return purchases made with the discounted BCH and

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