Bitcoin Cash Developer Liquidates Address of Attacker Who Exploited BCH Bug

Calin Culianu, a Bitcoin Cash developer who works on the Electron Cash wallet, has recently fired back against the hackers who exploited a bug in the Bitcoin Cash blockchain to get miners to find empty blocks right after its scheduled May 15 hard fork.

Speaking to CoinSpice, Culianu revealed that right after he saw the attack was occurring and that the BCH blockchain wasn’t processing transactions, he “panicked” and “thought it was the end of the world.”

Right after Bitcoin ABC developers deployed a patch that fixed the bug and things got back to normal, he claims to have realized it was possible to get back at the attackers. As such, he got together with other developers to collect information, and soon realized the attackers “didn’t use crypto keys to secure their funds.”

After digging through block explorers to figure out the attackers’ addresses, the developers claim to have been able to collect over 1.2 BCH (around $470) from the attackers in over 3,000 transactions. The funds, he claims, will be split with his “accomplices.”

To liquidate the attackers’ addresses, Culianu explained he remembers seeing they made “some funny transactions” to trigger the bug. After looking at data from these transactions, he told the news outlet some patterns “specify how to spend it.” Referring to these patterns, he said:

It’s Bitcoin Op Code, which lacks a signature … some garbage they used to attack the BCH network. Anyone can make one of those because it’s not cryptographically secure, and then redeem all their funds.

On Reddit, he bragged about his accomplishment, and received various tips from the cryptocurrency’s community for managing to get back at the attacker. Culianu noted that he believes there are other BCH wallets he didn’t get to without cryptographic keys guarding them, and estimates nearly 3 BCH ($1,200) are still up for grabs.

China’s Digital Currency Will Provide ‘Controlled Anonymity’, Official Reveals

An official from the People’s Bank of China (PBoC), China’s central bank, has revealed the country’s upcoming digital currency will provide its users some anonymity.

According to Reuters Mu Changchun, head of the PBoC’s digital currency research institute, said at a conference in Singapore the officially-named Digital Currency Electronic Payment (DCEP) will meet demand for anonymity. He said:

We know the demand from the general public is to keep anonymity by using paper money and coins ... we will give those people who demand it anonymity in their transactions.

The DCEP is, according to some, going to be partially powered by blockchain technology and will use wallets just like bitcoin and other cryptocurrencies. Analysts believe it could give China’s central bank unprecedented oversight and control over its economy, as it could allow it to control money flows.

Changchun noted that while it’ll provide anonymity, it will be “controllable anonymity” as the financial institution will ensure it doesn’t lead to anti-money laundering, terrorism-financing, online gambling, and other potential issues.

Per his words, the PBoC isn’t “seeking full control of the information of the general public,” but is instead looking to boost financial inclusion in rural areas and create a system that can be used in case there are problems with China’s current financial infrastructure. These comments seem to be a reply to Ethereum co-founder Joseph Lubin, who said China is likely interested in using DCEP for control.

When the DCEP will launch is currently unclear. While some rumored it would be launched this month, the head of the PBoC has said there’s “no timetable” for the digital currency’s launch. Chinese officials have also made it clear the currency’s holders won’t receive interest payments.

Featured image by Daniel Monteiro on Unsplash.