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Ledger Monero bug: ‘Lost’ funds of users affected by Ledger change output bug successfully recovered




Ledger Monero bug: 'Lost' funds of users affected by Ledger change output bug successfully recovered
Source: Unsplash

On 8 April 2019, one of the moderators of the Monero sub-Reddit released a post-mortem of the Ledger bug that affected Monero users, resulting in them ‘losing’ their funds.

An announcement by Monero || #XMR on Twitter read,

“We have, in collaboration with the Ledger team, successfully managed to recover the ‘lost’ funds of the users affected by the Ledger change output bug”

The initial announcement regarding the bug was made in early March, 2019 by the Ledger team on Reddit. Even Kraken, a leading exchange in the US, released an official statement claiming that they would be suspending its funding services till this issue was fixed by the team.

The Ledger team had stated,

“In the last version of Monero client 0.14 with application 1.1.3, it seems there is a bug with the change address: The change seems to not be correctly sent.”

Udi Wertheimer, a coder, had stated that this bug would result in XMR users incurring a massive loss of funds if they tried to spend the money stored in their Ledger wallets. He also requested them to refrain from doing so.

Nevertheless, according to the post-mortem report, transactions were “erroneously constructed and the wallet was not able to spot [and subsequently credit] the change.” This was what led investors to assume that their funds were lost.

This issue was resolved by a collaboration between the Ledger and the Monero team, and the ‘lost’ funds have been recovered. The post-mortem further revealed the reason why Ledger wallets could not identify the change and credit the balance.

Source: Reddit

The post stated,

“The bug was investigated by Ledger and described to both luigi1111 and stoffu. Fortunately, luigi1111 designed a concept that would allow one to retrieve the lost funds. Subsequently, stoffu created the required manual patch. Lastly, the Ledger team assisted the affected users with retrieving their funds.”

The post further assured that from now on, pull requests pertaining to Ledger’s Monero code would be thoroughly checked and reviewed by the team, as a step towards avoiding similar bugs in the future.

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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.


Binance Chain’s ‘decentralization’ questioned by Bitcoin enthusiast; calls Binance DEX just an app




Binance Chain's "decentralization" questioned by Bitcoin enthusiast; calls Binance DEX as just an "app"
Source: Unsplash

Udi Wertheimer, an independent developer and a “Bitcoiner” posted a series of tweets taking a jab at Binance Chain, which is slated to launch on April 23.

According to Wertheimer’s tweets, Binance has not updated the “source code” or “binaries” for the Binance Chain; and despite enquiring about it on the official telegram group of Binance, he was offered any source code.

He said that Binance recommended users, who want to migrate tokens to Binance chain, use the official SDK, which will be done via official HTTP API using Binance’s trusted servers. Binance DEX, which will make use of the Binance Chain, also has no source code or binaries which are open source. He stated:

“There’s almost nothing there. So I looked for the source code. Guess what, THERE’S NO SOURCE CODE. They only have binaries, and only for a light client, no full node at all!”

He commented on the Binance Chain and the Dex that all Binance did was release an “app that connects to the API of your new centralized infrastructure”. In addition, the “Light Node” is a program that helps users access and interact with the Binance Chain in a secure and decentralized manner; the source code for which is “closed source” according to Wertheimer.

Wertheimer further added:

“Just releasing the binaries won’t be enough, and there’s no indication I could find anywhere that they intend to release the source code, like, ever. In any case, regardless of what may happen in the future, what’s released so far amounts to nothing more than a new website.”

A Twitter user, @bag_holder commented:

“Lol seems like a very Chinese thing to do. “BORROW” IP, make some edits, then keep it to oneself”

Another Twitter user, @thecryptostefan commented:

“There’s a branch with the full node implementation, no? I thought they just hadn’t merged it to master yet when I was looking last night. I think it’s the prerelease branch or one of those.”

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