The Litecoin [LTC] Core team recently rolled out an emergency update that fixes a Denial-of-Service [DoS] vulnerability in the code. This also come with a warning to upgrade to the version as soon as possible, so as to not leave the vulnerability exploitable.
The bug can be exploited by miners sending duplicate inputs and is said to be able to crash various implementations. Due to Litecoin and Bitcoin [BTC] utilizing similar code for their implementation, the bug was found on certain implementations for the Bitcoin blockchain as well.
The bug will reportedly cause Litecoin Core to crash when attempting to validate a block containing a transaction that attempts to spend the same input twice. These blocks will be rendered invalid, and can only be created by miners who are willing to lose the income from the said block as miners would not continue to mine blocks if the reward for the block is not given.
The update also came with a note that notified users that pre-0.16 versions are not compatible with wallets created post-0.16. However, the existing wallets that were already created prior to the update will not be affected.
The team clarified that the update is also compatible with the Linux Kernel, macOS 10.8+ and Windows versions after Vista. The release must also be verified with the GPG key that is provided along with the release. This ensures that the downloaded file has not been tampered with.
User prayank said on Twitter:
‘Will be interesting to know how many other altcoins are affected due to bitcoin core vulnerability discovered recently”
Developer sickpig commented on the original bug fix on Github:
“As far as I can tell the list of people to which the bug was disclosed was not exhaustive, not by a long shot, so make sure to have a proper way to tell projects/devs that their code is at risk is a must IMHO. It would be great to know what were the actions taken to put in places the aforementioned coordination process. The aim is to improve the process in case of new disclosures that could happen in the future.”
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Tether’s [USDT] market capitalization hits all-time high, Facebook in talks with Winklevoss twins, trading firms over new cryptocurrency and more
Crypto News – 25 May – Tether’s [USDT] market capitalization hits all-time high, Facebook in talks with Winklevoss twins, trading firms over new cryptocurrency and more
— AMBCrypto (@CryptoAmb) 25 May 2019
Daily Crypto News – May 25
1) Bitcoin Wallet receives part of 5,000 BTC: A recent Whale Alert highlighted a transaction on May 24, where a large sum of Bitcoin [BTC] exchanged hands between two anonymous wallets. According to the alert the transaction took place at 22:13:23 + 1 minutes and 5,000.00001092 BTC was transferred from an unknown wallet, with address 19SiCYaYKZh9A8HUjuh14eg5wtYzKxiFbB, to another unknown wallet with address 14GcjGjxwadzcpmq9EG3KUgTKATjurbnWt.
Read more at https://bit.ly/2VRQwb0
2) Bitwise Report 2.0: Bitcoin [BTC] futures continues growth: On a month-on-month basis, Bitcoin Futures saw a massive bump in April trading at an average of 10,000 contracts daily, peaking on April 4, with over 22,000 contracts traded. To put that number in perspective, in March 2019, the average contracts traded was less than 4,000. Despite the high standards set in April, the average daily contracts traded in May, with 25 days gone has exceeded 14,000 and still looks to grow, given the price performance of Bitcoin.
Read more at https://bit.ly/2W40sTR
3) Craig Wright on private keys: Craig S Wright has, for years, claimed he is the true creator of Bitcoin [BTC] without providing a shred of evidence to support the same. With the crypto-community levelling, Wright could prove his worth by sending BTC from Satoshi Nakamoto’s touted wallet containing around 980,000 BTCs, the BSV man in a twisted cause and effect situation, stated he will “sign” into his wallet only when he proves he is the creator.
Read more at https://bit.ly/2X6fdlw
4) Tether’s [USDT] market cap hits ATH: Tether and Bitfinex are being closely scrutinized now more than ever due to the NYAG’s lawsuit; however, the scrutiny doesn’t seem to have affected Tether as the market cap of USDT has increased by over $100 million in approximately 70 days.
Read more at https://bit.ly/2McaTjE
5) Tether volume shift: Another controversial topic in the cryptocurrency industry was the issue of fake transaction volumes on many of the popular cryptocurrency exchanges. The magnitude of the topic was so large that even Changpeng Zhao, the Chief Executive Officer [CEO] of Binance had raised red flags. This topic and Tether as a whole received another twist when Larry Cermack, the Director of Research at The Block, pointed out a few parameters when it came to the said volume.
Read more at https://bit.ly/2wmk4mJ
6) Bitfinex’s LEO tokens listed on Delta Exchange: Bitfinex’s Leo tokens faced quite a lot of criticism when they were announced, due to the missing $850 million funds from Bitfinex. The private investment round by Bitfinex also faced a lot of heat from the media. However, in a recent development, Leo tokens are being listed on various exchanges for trading.
Read more at https://bit.ly/2HUEnNB
7) Robinhood en-route a projected valuation of $7 billion: Robinhood, the California-based cryptocurrency exchange made headlines recently when a source close to the organization revealed that it was on the verge of closing their latest round of funding at a valuation of a whopping $7 billion – $8 billion. Sources even claimed that the current round of funding could act as a precursor to an even bigger round of funding, which would pit Robinhood with the bigwigs like Coinbase and Binance.
Read more at https://bit.ly/2W64KKj
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