😎 Summer Sale Exclusive - Up to 50% off AI-powered stock picks by InvestingProCLAIM SALE

UniSat Halts Marketplace Following Double-Spend Attacks

Published 04/24/2023, 10:42 AM
Updated 04/24/2023, 11:00 AM
UniSat Halts Marketplace Following Double-Spend Attacks
BTC/USD
-

  • UniSat has shut down its marketplace after experiencing several double-spend attacks.
  • A vulnerability in the marketplace’s underlying code affected dozens of transactions.
  • The firm is currently conducting an investigation and will compensate all affected users in the coming days.

UniSat Wallet, the open-source browser extension for Bitcoin ordinals, has temporarily shut down its recently launched Inscriptions Marketplace following a large number of double-spend attacks on the platform. The issues were discovered earlier today after the UniSat community raised concerns about the authenticity of the marketplace’s offerings.

UniSat took to Twitter earlier today to share the developments of its Inscriptions Marketplace. According to the firm, a vulnerability in the marketplace’s underlying code led to the double-spend attacks on the platform. After a preliminary investigation, it was found that out of the total 383 transactions, 70 were affected by the attacks.

According to UniSat, the attacks came in spite of thorough testing of the platform last week. The firm reportedly simulated different approaches to double-spend attacks and made improvements and enhancements to the code in order to improve security. UniSat will continue to investigate over the next few days. The marketplace’s services will remain closed until further notice.

“Please understand that brc-20 is still very young and there have been numerous issues identified and resolved in the past 30 days. As the first brc-20 wallet provider and the first marketplace provider, UniSat is constantly facing numerous issues and moving forward with your full support,” UniSat Wallet tweeted.

The firm has assured that all affected users will be compensated for their losses in the coming days. UniSat will conduct a comprehensive inspection and consolidation of the platform’s issues and determine all users associated with the incident. Users seeking reimbursement will have to create a support ticket on UniSat’s Discord server and share proof including screenshots of transactions.

The post UniSat Halts Marketplace Following Double-Spend Attacks appeared first on Coin Edition.

See original on CoinEdition

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.