Bitcoin double-spend spotted in the wild

Bitcoin double-spend noticed within the wild

BitMEX Analysis has recognized a suspected double-spend transaction valued at 0.00062063 BTC or roughly $21 — and it doesn’t look like an occasion of that common replace-by-fee pockets hack.

On Jan. 20, BitMEX’s ForkMonitor famous that “a number of blocks have been produced at top 666833.” BitMEX Analysis tweeted:

One hour later, BitMEX Analysis attributed the orphaned block to an RBF transaction, which is the place an unconfirmed transaction is changed with a brand new switch paying a better price. Nevertheless, ForkMonitor has since up to date its recommendation to say: “No (RBF) bumps have been detected.”

Twitter-user and BSV’s Australian advocate Eli Afram famous the “blended messages” from BitMEX Analysis, asserting the double-spent transaction ought to be trigger for concern regardless of its small worth:

“So it seems an precise Double-Spend has occurred on BTC… Not an RBF (replace-by-fee), however an precise double spend. A mere 22USD… however – this might have been 22million.”

Satoshi Nakamoto’s Bitcoin Whitepaper is credited with having solved the double-spend drawback in 2009. The problem of making certain {that a} decentralized community can autonomously confirm that the identical cash haven’t been transferred greater than as soon as had stymied earlier makes an attempt at digital money. 

In July, crypto safety agency ZenGo recognized a double-spend exploit focusing on a number of common Bitcoin wallets. Whereas the pockets producers moved to handle the exploit, Bitcoin Money proponent Hayden Otto warned the vulnerability could also be inherent to BTC’s replace-by-fee performance. He’d earlier exploited the identical vulnerability in a viral video.