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XRP Ledger’s ‘partial vulnerability allows user to siphon 7 million XRP’: Bitrue sheds light on ‘bug’

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XRP Ledger's 'partial vulnerability allows user 7 million XRP'; Bitrue throws light on the 'bug'
Source: Unsplash

Bitrue exchange detailed the XRP Ledger’s “partial payment vulnerability” to its users and other exchanges that support and list XRP. The exchange also mentioned that it was successful in stopping a user abusing the bug on its platform.

A few users on XRP Chat forum highlighted that a user used this “vulnerability” to fake deposit funds and dump those “fake XRPs” on BitPro exchange. A user @Yxxyun commented:

“Taiwan Exchange BitoPro just online XRP trading on their exchange recently, but didn’t handle partial payment correctly, hacker use this feature to fake deposit and then dump the fake XRP, BitoPro’s loss is about 7 million XRP.”

The exchange tweeted:

The exchange explained “Partial Payment” with the following transaction where the user claimed to send 330,000 XRP but the actual amount delivered was only 0.003255 XRP.

Source: XRPCharts

In addition, the exchange highlighted how new exchanges that list XRP make this mistake. The tweet read:

“Because often the exchange (especially the new ones supporting $XRP) wasn’t aware of the existence of “partial payment”! Thus using the wrong parameter “Amount’ to record the payment. The CORRECT parameter to use is and should always be “DeliveredAmount” ‼️”

 

Source: XRPCharts

The tweet thread from Bitrue further outlined that a user had tried to exploit the same vulnerability, but the attempt was a failed one, as the exchange had caught it.

Moreover, the thread listed that since March 08, 2019, over 148 transactions have been made, exploiting this vulnerability.

Wietse Wind, creator of the famed XRP Tip Bot commented,

“He/she tested almost all exchanges. Even the TipBot (not vulnerable). The TipBot user was https://www.reddit.com/user/9956235689. The account used by the attacker to test all exchanges for the Partial Payment exploit was activated by a deposit form @Bitrue. I contacted them and they are on it.”





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XRP

XRP interest on the rise as analysis shows formation of a ‘quadruple bottom’

Akash Anand

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Source: Pixabay

The cryptocurrency market has been subject to a significant bull run that has not only catapulted the prices of digital assets, but also their corresponding market caps. XRP, the third largest cryptocurrency, had more of a rollercoaster ride rather than the sudden surge enjoyed by Bitcoin, with the coin trading at a 6-month high, at press time.

A recent analysis conducted by DonAlt, the popular cryptocurrency enthusiast, pointed out the dips in the one-day chart of XRP. His tweet read,

“$XRP update:
A lot of interest in XRP. Kind of looks like a quadruple bottom / head and shoulders.
Not the biggest fan of longing those. If there is one lesson 2018 taught everyone is support is only support for so long.
I’ll be watching this one from the sidelines.”

Source: Twitter

Source: Twitter

There was also speculation that it was a good time to buy into XRP when there is a violent reaction at the lows, while going long previously was a risky decision. Previous readings of the XRP graph have shown that any squeeze in the XRP graph will result in a full retracement. Since May 2019, the cryptocurrency grew from $0.28 to the current trading price, which was more than a 100 percent increase.

At the time of writing, XRP was trading at $0.467, with a total market cap of $19.89 billion. The cryptocurrency was growing at a rate of 1.13 percent, with a 24-hour market volume of $42.57 billion.

XRP was in the news recently after its related application, XRP TipBot, came back online after a small downtime. Wietse Wind, creator of XRP TipBot, had tweeted,

“Oops! Sorry! Infrastructure blip. Really easy fix but I enjoyed an offline afternoon with my girls 😇 So I only found out after some time, when I checked my phone. Monitoring, messages, calls 😇 Social media tips went through during the downtime. Sorry!”





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