Overstock BCH=BTC payment bug fixed

Bug allowed users to 1 Bitcoin Cash instead of 1 Bitcoin
11 January 2018   908

Coinbase and online retailer Overstock.com eliminated a serious bug that allowed their customers to pay for purchases in Bitcoin Cash instead of Bitcoin. This is reported by KrebsOnSecurity.

Bug was noticed by JB Snyder in early January. When buying goods from Overstock for bitcoins, the site accepted payment from Bitcoin Cash, despite the fact that the price of BCH is approximately 15% of the bitcoin price.

To verify this information, KrebsOnSecurity author Brian Krebs bought a set of three outdoor solar lamps worth $ 78.27, for which Overstock billed 0.00475574 BTC.

Solar Lamps Bill
Solar Lamps Bill

Going to Coinbase, Krebs sent 0.00475574 Bitcoin Cash instead of bitcoin. The site replied that the payment was made. A few seconds later Overstock sent the message of a successful purchase. Thus, Krebs instead of $ 78 paid only $ 12. When the journalist canceled the order, to his surprise the system returned bitcoins, and not Bitcoin Cash.

Return Bill
Return Bill

Over the solution of the problem, Coinbase and Overstock worked together for several hours. According to representatives of Coinbase, the problem was caused by the fact that Overstock incorrectly used the return values in the API for integration with trading partners. At the moment, this bug has already been fixed.

US Authorities to Sell $4.3M Worth Seized BTC

As reported, the Bitcoins were seized during different federal investigations
18 October 2018   155

The US Federal Penitentiary and Marshals Service has announced an auction, during which 660 Bitcoins will be sold, previously confiscated by law enforcement agencies. The current market value of the coins put up for sale is about $ 4.3 million, CoinDesk reports.

Bitcoins offered for sale were seized during federal criminal, civil and administrative investigations.

The auction will be held on November 5, and to participate in it, you must register no later than October 31 and make a deposit of $ 200,000.

The trades will be divided into two parts and include the sale of six blocks of 100 BTC and one more block of 60 BTC. Auction participants will not be able to view other people's rates or change their own.

The Office clarified that part of the assets put up for auction includes Bitcoins, which were seized during the recent investigations into the cases of the traders Teresa Tetley and Thomas Mario Costanzo. Teresa Tetley was sentenced in July to a year in prison on charges of trading in cryptocurrency without the necessary license and laundering money obtained from drug trafficking.

The Marshals do not report which part of the bitcoins seized from Tetley and Costanzo is put up for auction, however, it was previously known that 40 BTC were withdrawn from the first, and 80 BTC from the second.

Two previous major auctions for the sale of confiscated bitcoins were held in the United States in January and March of this year. In the first case, 3813 BTC was sold, in the second - 2170 BTC.