Bitcoin Cash network under attack

ViaBTC reports on Bitcoin Cash network being under transaction malleability attack
07 August 2017   1681
Bitcoin Cash

A new cryptocurrency representing a hard-forked version of Bitcoin, different from it in the blocksize limits

Last weekend, the Bitcoin Cash network was attacked. During the attack the unknown hackers took advantage of the vulnerability of transactions' plasticity, as reported by the Chinese mining pool ViaBTC on their social network: 

Blockchain

Distributed database that is used to maintain a continuously growing list of records, called blocks

Transaction malleability is the ability of someone to change unconfirmed transactions without making them invalid, which changes the transaction’s txid (an identifier used to uniquely identify a particular transaction), making child transactions invalid.

Bitcoin

Is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen

The funny thing is that the problem could be fixed by the Segregated Witness protocol, which had to be activated in the Bitcoin network this month. The Bitcoin Cash supporters argued that SegWit was not so important as, for example, larger blocks, and the problem itself can be solved in other ways. Now these statements are the source for jokes for Bitcoin Cash haters: 

According to the updated information from ViaBTC, now the withdrawals suspended are resumed on the exchange.

Crypto Investor to File Lawsuit Against AT&T

Michael Terpin believes that AT&T helped scammers to still his $24M worth crypto
16 August 2018   125

In the Los Angeles District Court, a 69-page lawsuit was filed by BitAngels founder Michael Terpin against the American telecom giant AT&T. Terpin claims that the operator assisted fraudsters in "stealing digital personal data" from the account on his smartphone, which is why he lost $ 24 million in cryptocurrency, according to an official release.

According to Terpin, for seven months, there were two hacks. Initially, an attacker got access to his phone number without providing a password or correct identification data. Later, the phone number was used to steal crypto.

AT&T’s studied indifference to protecting its customers’ privacy and financial assets is a metastasizing cancer, threatening hundreds of millions of unsuspecting AT&T’s customers. Our client had no idea when he initially signed up, nor when later he was promised the highest level of security for his account, that low-level retail employees with access to AT&T records, or people posing as them, can be bribed by criminals to override every system that AT&T advertises as unassailable.
 

Pierce O’Donnell
Lead counsel for Terpin in this complaint

Michael Terpin requires AT & T to pay him $ 224 million - $ 200 million for moral damages and $ 24 million for actual theft.