Overstock BCH=BTC payment bug fixed

Bug allowed users to 1 Bitcoin Cash instead of 1 Bitcoin
11 January 2018   1156

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.

tZERO to Launch Bitcoin Trading App

Application itself is being developed by Bitsy; it may also begin to support Ethereum in the future
22 March 2019   142

The security tokens platform tZERO announced plans to launch a mobile application for buying and selling bitcoin. In the future, the application may also begin to support Ethereum,  CoinDesk reports.

According to Saum Noursalehi, CEO of tZERO, applications for iOS and Android devices should be launched in June. Bitsy is developing it, a cryptocurrency start-up that is part of the portfolio of the Overstock venture division of Medici Ventures.

That’s part of the reason we acquired Bitsy — to accelerate time to market for our mobile app. They have an app for trading crypto, primarily bitcoin, in a beta-phase, they built a wallet and key recovery mechanism, and this will be the foundation of the mobile app for tZERO. They are also working on some cool stuff like biometric login. 

Saum Noursalehi

CEO, tZero

According to him, the application will allow you to store cryptocurrency without the need to trust third parties and it will be connected to the network of exchanges through the API. The implementation of this plan will occur through partner tZERO, the institutional trading platform SFox.

In the future, the head of tZERO added, the platform also intends to create its own cryptocurrency vault to meet the demand from users.

The public beta testing of Bitsy wallet started in November 2018. With his help, the Overstock retailer plans to launch Bitcoin sales on its website.