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.

PayPal is Cautiously Optimistic About Partnership with Libra Association

  • PayPal cautious about future with Facebook's digital currency libra. 
  • Payment platform was one of the first companies to join and support the Libra Association.

Payment platform PayPal is cautiously optimistic about its relationship with Facebook’s digital currency libra, despite being the highest-profile company to join the Libra Association. 

PayPal Backs Libra Association

In June, shortly after the official unveiling of Facebook’s libra, PayPal announced an intention to join and support the Libra Association, a collection of tech and finance companies promoting the product. 

At the time, PayPal billed the digital currency as a revolutionary product for people around the world, 

We believe in democratizing participation in the digital economy for people from all walks of life, and businesses of all sizes.

However, PayPal appears cautious about its future with Facebook’s digital currency. PayPal investor relations vice president Gabrielle Rabinovitch reiterated Sept. 12 that the company is a non-binding agreement with libra, 

It's a non-binding commitment. And obviously, I think there's a lot of work to happen before we get to that point where it becomes something more than just a very exciting idea.

She added, 

The goals and ambitions of Libra are very consistent with PayPal's overall ambitions in terms of serving the underserved; democratizing access to capital. So we very much believe in the potential of Libra.

While PayPal appears optimistic about the future of libra, the digital currency has endured months of regulatory and political scrutiny concerning its release. 

Earlier in the week, senior U.S. Treasury official Sigal Mandelker told an audience in Geneva that libra would be held to the highest standard of regulatory compliance in order to combat money laundering and terrorist funding.

 

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