Defi (DEFI)
$0.206177 (-27.01 %) View coin
News
08 April 2020

Hacker exploits flaw in decentralized bitcoin exchange Bisq to steal $250K

Bisq, a non-custodial exchange, uncovered a critical vulnerability that enabled an attacker to withdraw more than $250,000 of user funds held mostly in monero (XMR). A recent upgrade to the protocol added the vulnerability which allowed the attacker to set the default address in case a transaction fails to their own. They were then able to initiate a trade and wait for it to fail to then receive the buyer's payment and security deposit.

Why it matters - Decentralized financial applications have experienced a number of failures this year resulting in the loss of funds. With each additional incident, users are going to become increasingly wary of holding money on non-custodial venues as they prove to be no safer than their centralized counterparts. - Cryptocurrency users tend to be acutely aware of their financial privacy which is where privacy coins like monero gain their value proposition. However, since they mask transactions they are also a prime target for theft as the attacker does not have to worry about being traced.

The promise of bringing bitcoin onto Ethereum has taken a step back as tBTC, a token with a 1:1 backing with bitcoin has stopped taking deposits. The contract will pause deposits for 10 days to allow developers time to notify users of what happened and allow them to withdraw funds. A full-post morte...
Coinbase announced a new Coinbase Price Oracle that enables anyone to use their API to get signed price data for BTC-USD and ETH-USD. The feed is sourced by Coinbase Pro and updates every minute. It also allows anyone to verify the authenticity of the data and publish themselves using the Coinbase P...
Uniswap, one of the largest decentralized exchanges, has released further details surrounding its anticipated v2 launch. It is currently on schedule to launch in Q2 and it is available on Ropsten, Rinkeby, Kovan, and Görli testnets. New features include ERC20/ERC20 trading pairs, price oracles, sust...

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