Bitcoin-to-Gold Exchange Vaultoro Implements Lightning Network Payments

Francisco Memoria
  • Gold-to-Bitcoin exchange Vaultoro has recently revealed through a blog post it now allows users to deposit using Bitcoin's Lightning Network
  • The feature is still in Beta, and as such users can only deposit 100 Satoshis using it.
  • The company plans on allowing users to trade without depositing to the exchange.

Vaultoro, the world’s first crypto-to-gold exchange, has recently announced it implemented bitcoin’s Lightning Network as an instant deposit method. In the future, per the exchange’s CEO, users will be able to buy gold with bitcoin directly from their wallets.

To take advantage of Vaultoro’s Lightning Network (LN) payments integration, users will have to download the Eclair Wallet, deposit funds in it, open a Lightning channel, and once its fully loaded deposit funds to Vaultoro’s deposit address. Since the feature is still in Beta, Vaultoro only allows deposits up to 100 Satoshis using the Lightning Network.

Normally, users have to send their bitcoins to Vaultoro and wait for six network confirmations before they can start trading. During the waiting period, their bitcoins are exposed to counterparty risk. With the Lightning Network, the company’s CEO Joshya Scigala notes, users won’t need to trust Vaultoro’s hot wallet to trade.

According to a blog post, the exchange plans on allowing users to place orders directly from their wallets, thanks to the Lightning Network. The blog post reads:

“Vaultoro traders will be able to deposit funds in milliseconds without having to trust our exchange hot wallet if set to instant order. Our goal at Vaultoro has always been to make the exchange radically transparent and now with lightning network, market takers will have no need to trust our hot wallet.”

Vaultoro's blog post

Vaultoro notes that the Lightning Network payments feature is still in Beta, and warns users they’ll be using it at their own risk. The Eclair Wallet is now recommended, as it’s the only Android wallet supporting LN payments.

The company claims it was also the first exchange to support the user activated soft for (UASF) back in May 2017, in an attempt to “help unlock the upgrade stalemate” that divided the bitcoin community, and ultimately led to Bitcoin Cash’s creation.

Per its website, Vaultoro currently allows users to trade gold using bitcoin, down to a minimum of 0.001 grams of gold. The exchange fully transparent, and even lists on its website the amount of gold and bitcoin each user has, while maintaining anonymity.

The exchange’s users can hold gold for seconds or years, while knowing their ownership certificate is safely stored on the blockchain. Gold holdings are physically stored in Switzerland, and can either be requested or left in the vault, where they’re insured. Reportedly, Vaultoro is working on a gold-backed debit card.

Malicious Malware Program Hidden Under Fake Wasabi Bitcoin Wallet Links

Cryptocurrency scammers have reportedly created a fake website that contains several links to download the widely-used Wasabi Bitcoin (BTC) wallet. However, some of these are “spoofed” links because they don’t actually lead to official Wasabi website.

Those looking to download the Windows version of the open-source Wasabi cryptocurrency wallet should be careful because online scammers have placed a malicious file with an “.msi” extension under what appears to be a link to Wasabi’s Windows OS-compatible wallet.

The fraudulent site,, created by an unknown group of hackers, lists four different versions of Wasabi’s wallet. These include wallet links for macOS, Linux, and Windows users.

“The First Malware That Pretends To Be Wasabi”

Twitter user @nopara73, the co-founder of Wasabi wallet, revealed via the microblogging platform that he had discovered what could be “the first malware that pretends to be Wasabi (” He also pointed out that “only the Windows download link points to their own website, [while] the rest” of the links were to their GitHub page.

Using A Decompiler To Deconstruct Hackers' Original Source Code

Going on to caution against the potential severity of the problem, the Wasabi wallet developer noted that no search engines were able to detect the malicious file (with the “.msi” extension).

Commenting on the matter, Nicolas Dorier, a C# and Bitcoin developer, recommended “installing [the program] on a virtual machine (VM), extracting the files, and [trying to] disassemble” with ILSpy, an open-source .NET assembly and decompiler. This, Dorier said, will help in determining “what sh*t they are doing.”

Malware Programs Can Adjust Their Behavior By Detecting A Virtual Machine Environment

Acknowledging that Dorier’s suggestion may be helpful, the Wasabi co-founder said that he would try to look into this issue. However, he said his time would be better spent “building rather than this.”

Meanwhile, Ethan Heilman, the CTO and co-founder of Arwen, an organization focused on the development of security solutions for centralized digital asset exchanges, warned against running the malware through a VM. Heilman explained that VMs “were not intended to used for  isolating malicious code.” He added that “lots of malware checks [whether] it is running in a VM [environment] and changes its behavior [accordingly]."

He also suggested:

You should isolate your analysis machine from your developer [or code execution] machine by using a different computer for malware analysis and creating an isolated network environment.