The researchers from MIT Media Lab Digital Currency Initiative (DCI) report on the vulnerability found in IOTA cryptographic hash function. IOTA team provides its customers with this information via their social media:
Curl disclosure, beyond the headline:https://t.co/JADmbwFhlC
— IOTA (@iotatoken) 7 сентября 2017 г.
As reported, the IOTA developers themselves agree with the conclusions of DCI only partially. At the same time, the report says that the creators of the cryptocurrency have already released a corresponding patch, eliminating the identified shortcomings.
Neha Narula, Director and Digital Currency Initiative at the MIT Media Lab, believes that thanks to the newly discovered vulnerability of IOTA, attackers could destroy or steal users' funds.
You might think that IOTA, a cryptocurrency worth over a billion dollars, and working with organizations like Microsoft, University College London, Innogy, and Bosch, BNY Mellon, Cisco, and Foxconn (through the Trusted IOT Alliance) would not have fairly obvious vulnerabilities, but unfortunately, that’s not the case.
Director and Digital Currency Initiative at the MIT Media Lab
The price of the digital currency is reducing due to the information about the vulnerability found.
IOTA on the coinmarketcap.com chart
Thus, at the time of writing, IOTA cryptocurrency price is about $0.53.