all these blockchain currencies seem to have really good bug bounty programs, this one gave out almost half a million dollars (410BTC)
Seriously though, anyone who could find a serious bug in Bitcoin could cash in.
Zerocoin implementation bug
21–30 of 142 posts
Re: Zerocoin implementation bug
#22What's better that stealing magic Internet money? Creating anonymous magic Internet money out of thin air, then selling it. Brilliant. But seriously, I'm not sure which is worse: Watching your stolen money move around the blockchain knowing you are helpless to do anything about it, or being provably unable to even tell the difference between "real" and "counterfeit" coins.
That's NO different than what the "Federal reserve" does. Creates paper money out of thin air.
Re: Zerocoin implementation bug
#23The current market cap of Zcoin is 1,538 BTC [0], so this person created 1/4 of all the coins in circulation (410 BTC), and these guys are saying: "We knew we were being attacked when we saw that the total mint transactions did not match up with the total spend transactions". It took them way too long to realize that they were being outsmarted. EDIT: u/aftbit also posted this on the thread: "They even cited the abili…
Well yes, they were not wrong to cite the ability to detect hacks like this as a feature over zcash. This same class of error could exist in zcash and we would never know. We know it happened here because of the ability to audit.
Re: Zerocoin implementation bug
#24Anyone know which line of code they're talking about? I took a glance at their Github bug tracker and couldn't find any references to this bug. [0] https://github.com/zcoinofficial/zcoin/issues?q=is%3Aissue+i...
Better look at commits. I am not familiar with their code base, but latest commit seems like a bugfix: https://github.com/zcoinofficial/zcoin/commit/33796c839f7d4d...
So... were's a unit test to make sure this never happens again?
Re: Zerocoin implementation bug
#25The current market cap of Zcoin is 1,538 BTC [0], so this person created 1/4 of all the coins in circulation (410 BTC), and these guys are saying: "We knew we were being attacked when we saw that the total mint transactions did not match up with the total spend transactions". It took them way too long to realize that they were being outsmarted. EDIT: u/aftbit also posted this on the thread: "They even cited the abili…
Or alternatively, the developers designed this hard-to-find typo/bug years ago and have now just quietly cashed out.
Seems very unlikely since it would inevitably cause many to lose faith in the currency. If they really want to cash out, they can just do what almost every other upstart cryptocurrency founder does and make it clear they're taking some of the pie.
Re: Zerocoin implementation bug
#26The current market cap of Zcoin is 1,538 BTC [0], so this person created 1/4 of all the coins in circulation (410 BTC), and these guys are saying: "We knew we were being attacked when we saw that the total mint transactions did not match up with the total spend transactions". It took them way too long to realize that they were being outsmarted. EDIT: u/aftbit also posted this on the thread: "They even cited the abili…
Smells like the original Jurassic Park!
But at the insistence of Malcolm, Arnold tries different ways of counting the animals on the computer. The count reveals that there are 292 animals in the park, much higher than the official figure of 238. Malcolm concludes that the animals, including the deadly velociraptor, are breeding. Wu cannot believe it, because all the dinosaurs are female. http://www.novelguide.com/jurassic-park/summaries/iteration3
Re: Zerocoin implementation bug
#27[deleted]
Re: Zerocoin implementation bug
#28What's better that stealing magic Internet money? Creating anonymous magic Internet money out of thin air, then selling it. Brilliant. But seriously, I'm not sure which is worse: Watching your stolen money move around the blockchain knowing you are helpless to do anything about it, or being provably unable to even tell the difference between "real" and "counterfeit" coins.
I'll just leave this here: https://www.youtube.com/watch?v=vaqhGyOxp8I
[deleted]
Re: Zerocoin implementation bug
#29all these blockchain currencies seem to have really good bug bounty programs, this one gave out almost half a million dollars (410BTC)
Ethereum takes the record for paying out $53 million dollars (943 BTC X 53 = lots). Technically, it wasn't even theft or a bug since Ethereum & DAO proudly claimed "Code is Final Law".
I almost feel like cryptocoin and blockchains are set out to do 1 thing really well-show how superior centralized systems are and how easy it is to trick people with pseudo academic jargon-just read Vitalik's writing peppered with superficial pseudo-academia-charlatan pendant language it's zealots gladly eat up-with little to know effort to dissect and analyze fact from fiction.
Re: Zerocoin implementation bug
#30What's better that stealing magic Internet money? Creating anonymous magic Internet money out of thin air, then selling it. Brilliant. But seriously, I'm not sure which is worse: Watching your stolen money move around the blockchain knowing you are helpless to do anything about it, or being provably unable to even tell the difference between "real" and "counterfeit" coins.
Blockchain and Cryptocoins will face the same fate HYIP forums / Liberty Reserves went through-regulatory enforcement and social stigmatization.