During the last few weeks, a number of individuals have been discussing the upcoming release of Bitcoin Core version 24.0 and how the codebase will include full-replace-by-fee (RBF) logic. The discussion has become controversial as a few Lightning Network and zero confirmation advocates have expressed a distaste for the full-RBF idea. The CEO of Synonym, […]
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BitMEX Research has identified what it believes to be a double-spent Bitcoin transaction… worth $21.
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Beleaguered Ethereum Classic (ETC) blockchain suffered yet another 51% attack on August 29. The latest attack caused the reorganization of over 7,000 blocks and this corresponds to approximately two days of mining. At the time of reporting, it was not clear if there had been any double-spending as was the case in the last attack. […]
The post Ethereum Classic Suffers 51% Attack Again: Delisting Risk Amplified appeared first on Bitcoin News.
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Cryptocurrency exchange Okex reveals it suffered the $5.6 million loss as a result of the double-spend carried out by the attacker(s) in Ethereum Classic 51% attack. Okex says it fully absorbed the loss as per its user-protection policy while insisting that the attack did not cause any loss to the platform’s users. Also as part […]
The post Ethereum Classic 51% Attack: Okex Crypto Exchange Suffers $5.6 Million Loss, Contemplates Delisting ETC appeared first on Bitcoin News.
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In the closing keynote for Virtual Blockchain Week, acclaimed author Don Tapscott argued DLT is the foundational technology of “the second digital era.”
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A 51% attack on the Bitcoin Gold blockchain lead to double spend of $70,000 worth of the cryptocurrency
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When it comes to creating a peer-to-peer electronic cash system, accepting zero confirmation transactions becomes critically important. When a model’s main aim is to “just hodl” or push an isolated store of value narrative, important concerns like double spending can take a back seat, potentially opening a network to serious attack. A recent video demonstrating […]
The post Why Double Spends on BCH Are Not the Same as Replace-By-Fee Fraud appeared first on Bitcoin News.
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On December 18, Bitcoinbch.com published a video explaining how easy it is to double spend BTC transactions in the wild. Not long after the film was released, the payment processor Travelbybit announced it would be removing both BTC and BCH payments for over 400 Australian merchants. Unfortunately, a few BTC proponents claimed BCH has the […]
The post Travelbybit to Drop Bitcoin Payments After Viral Double Spend Video appeared first on Bitcoin News.
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A little bit of drama involving cryptocurrencies can generate a cascading effect. In Australia, a viral video demonstrating a TravelByBit double-spend attack has many retailers worried. The viral video shows only how this particular payment processor is affected. A Troublesome Development for TravelByBit TravelByBit supports both Bitcoin and Bitcoin cash at this time. However, it seems both currencies will no longer be supported moving forward. This decision was made despite the video only depicting a Bitcoin double-spend attack. Interestingly enough, the video was created by Hayden Otto, a well-known Bitcoin Cash supporter. It appears that his desire to make Bitcoin
The post TravelByBit Falls Victim to a Bitcoin Double-Spend Attack Method appeared first on The Merkle Hash.
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On December 18, the web portal Bitcoinbch.com published an informal notice explaining that merchants accepting BTC should switch to BCH because of “dangerous flaws” found in the BTC software. The problem is tied to slow confirmation times tethered to a BTC-based protocol called Replace-by-Fee (RBF), which gives individuals the opportunity to double spend on merchants. […]
The post Video Shows How Easy It Is to Double Spend BTC Using RBF appeared first on Bitcoin News.
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