RATE Group | Lightning Network User Confused by Protocol Lost 30,000 USD
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Lightning Network User Confused by Protocol Lost 30,000 USD

26 Oct Lightning Network User Confused by Protocol Lost 30,000 USD

Posted at 23:15h in Bitcoin News by

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Lightning Network User Confused by Protocol Lost 30,000 USD

The Lightning Network has long been touted by its proponents as a speedy, low-cost solution to Bitcoin’s scaling issues. A series of security scares and UX issues have called that vision into question however. The latest LN slip-up saw a user lose 4 BTC in one fell swoop.

Also read: Hidden Lightning Network Bug Allowed Spending of ‘Fake’ Bitcoins

Redditor Has a Lightning Nightmare

An unfortunate LN user claims to have lost 4 BTC after force-closing a channel using an older invalid state. Cue a cascade of alternately sardonic and sympathetic comments on the thread where redditor ZipoTm confessed their calamity.

How did this travesty befall the hapless ZipoTm? Well, on Lightning, the distribution of funds occurs when a channel is closed, with the protocol deferring to the most recently signed balance sheet. Or as one redditor explained, “If you force close using an older invalid state, they can take the money while it’s timelocked if their node is…

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