Monday, June 1, 2015

Bitcoin App Issues Critical Update After Bug Leads to Total Crypto Breakdown

Bitcoin wallet application Blockchain has rushed to release an update after a critical bug left multiple users unaware that they were sharing a bitcoin wallet, leaving their cryptocurrency completely unsecured.
The bug affected users running Blockchain’s app on Android version 4.1 or older,the company says, and it “resulted in one specific address being generated multiple times, leading to a loss of funds for a handful of users.”
Blockchain denied that the incident was a total cryptobreakdown, and said that “only a very small number of users were affected; we’ve counted just three users who have reached out related to the address in question, which is an extremely minor amount compared to the 3.5 million wallets we have.” 
The magnitude of the error sparked shocked reactions from information security professionals.

1 comment:

  1. Do the Bitcoin fanboys realize that Blythe Masters joined bitcoin trading platform Digital Assets Holdings LLC as chief executive in March of 2015, after creating credit default swaps, and manipulating precious metal pricing for JP Morgan Chase? Where ever this wicked witch of the east lands, skulduggery, and mayhem follow quickly in her wake.