Bitcoin Core Update FIxes Vulnerability -Reportedly Could Crash Network for $80,000

Bitcoin Core Update FIxes Vulnerability -Reportedly Could Crash Network for $80,000

Bitcoin Core has released an update following the recent detection of vulnerability in the product, as indicated by a press release on September 18 by the Bitcoin Core Project. According to the announcement, Bitcoin Core 0.16.3 was released with a fix for a denial-of-service (DoS) vulnerability.

If they attempted processing a block transaction that tries to spend the same amount twice, the vulnerability could reportedly cause a crash of older versions of Bitcoin Core. As per the press release, those kinds of blocks can be only created by a miner since they are invalid. a miner would be required to burn a block of “at least” 12.5 Bitcoin (BTC) worth about $80,000 as of at press time, In order to create such block.

The new update incorporates a feature that eliminates a potential crash by empowering the software to “quietly reject” invalid blocks created by miners.

An associate professor of computer science at Cornell University, Emin Gün Sirer, revealed to Motherboard that the whole network could have been crashed for less cash than “a lot of entities would pay for a 0 day attack on numerous systems.” Sirer said that there are many “motivated individuals” that could have accepted this opportunity to bring the system down.

As per Jason Glassberg, Casaba Security co-founder, the recent vulnerability found on Bitcoin Core software could “bring down the system.” He explained that the network crash “does not show up” to target users’ wallets, but rather would “influence transactions in the sense that they can't be finished,” as the expert told tech media agency ZD Net.

Co-owner of Bitcoin.org, Cobra Bitcoin, said the ongoing issue in Bitcoin Center was an "exceptionally terrifying bug" that could have influenced a "tremendous lump of the Bitcoin network."

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