Zcoin implementation bug enabled attacker to create over 500K Zcoins
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Zcoin implementation bug enabled attacker to create over 500K Zcoins
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Re: Zcoin implementation bug enabled attacker to create over 500K Zcoins
#2> If the attacker managed to liquidate their Zcoins at an average price of $1.25, they may have netted themselves upto USD 750,000.
If you are a skilled programmer / security expert / mathematician, crypto currency exploit creation seems to be an extremely lucrative hobby.
Re: Zcoin implementation bug enabled attacker to create over 500K Zcoins
#3Note that this is unrelated to Zcash, the zk-SNARKS based cryptocurrency perhaps more known to HN.
Re: Zcoin implementation bug enabled attacker to create over 500K Zcoins
#4Im curious. Is this actually illegal? Is there any requirement on how valid crypto currency is created?
I understand the network could implement a fix and prevent future transactions or even roll back old ones if there's enough desire, that's what democracies are about right?
But was there anything illegal about creating and then trading them? A rollback would hurt the exchanges, but if they didn't already have something in their T&Cs about currencies needing to be created legitimately (and what legitimately actually means), then is it anything other than morally wrong?
Re: Zcoin implementation bug enabled attacker to create over 500K Zcoins
#5> If the attacker managed to liquidate their Zcoins at an average price of $1.25, they may have netted themselves upto USD 750,000. If you are a skilled programmer / security expert / mathematician, crypto currency exploit creation seems to be an extremely lucrative hobby.
Which is a great thing for the whole
Re: Zcoin implementation bug enabled attacker to create over 500K Zcoins
#6> If the attacker managed to liquidate their Zcoins at an average price of $1.25, they may have netted themselves upto USD 750,000. If you are a skilled programmer / security expert / mathematician, crypto currency exploit creation seems to be an extremely lucrative hobby.
Especially because a lot of the exploits end up being simple integer overflows or failed copy-paste
Re: Zcoin implementation bug enabled attacker to create over 500K Zcoins
#7> If the attacker managed to liquidate their Zcoins at an average price of $1.25, they may have netted themselves upto USD 750,000. If you are a skilled programmer / security expert / mathematician, crypto currency exploit creation seems to be an extremely lucrative hobby.
Indeed. Everything that crypto-currency touches gets an automatic bug bounty. With rewards that are much nicer than limited editions t-shirts.
Re: Zcoin implementation bug enabled attacker to create over 500K Zcoins
#8Im curious. Is this actually illegal? Is there any requirement on how valid crypto currency is created? I understand the network could implement a fix and prevent future transactions or even roll back old ones if there's enough desire, that's what democracies are about right? But was there anything illegal about creating and then trading them? A rollback would hurt the exchanges, but if they didn't already have somet…
This could probably be spun as a violation of the cfaa. IANAL, but the practical interpretation of that seems to be "don't do bad stuff using a computer", kind of like mail fraud but worse.
Re: Zcoin implementation bug enabled attacker to create over 500K Zcoins
#9Is this displaying in a weird way for anyone else? I half thought that this was a bug or something, some attack(?).
Re: Zcoin implementation bug enabled attacker to create over 500K Zcoins
#10> If the attacker managed to liquidate their Zcoins at an average price of $1.25, they may have netted themselves upto USD 750,000. If you are a skilled programmer / security expert / mathematician, crypto currency exploit creation seems to be an extremely lucrative hobby.
Well, same thing goes to paper note forgery.