RATE Group | Monero bug could have allowed hackers to steal massive amounts of cryptocurrency
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Monero bug could have allowed hackers to steal massive amounts of cryptocurrency

25 Sep Monero bug could have allowed hackers to steal massive amounts of cryptocurrency

Posted at 23:00h in Cryptocurrency News by

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The developers of the Monero anonymous cryptocurrency have rolled out a patch today that addresses a bug that could have been used by hackers to obtain funds from exchanges illegally.

Described by the Monero team as a “burning” bug, the issue is in how Monero exchange platforms handle incoming transactions.

The issue came to light after a user posted a theoretical question on the Monero subreddit. The user asked what would happen if someone would send multiple transactions to a stealth address.

For ZDNet readers that are unfamiliar with the term of a stealth address, this is a concept in the world of cryptocurrencies.

A sender can instruct a recipient to create a one-time usable stealth address. The sender can send money to the stealth address, and the stealth address relays the funds to the intended recipient’s real address. In Monero and other cryptocurrencies, stealth addresses are used as payment proxies, helping users gain…

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