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Double-Spending Flaw Found in Major Bitcoin Wallets

Charlotte Henry ·

Israeli researchers at wallet startup ZenGeo have found a vulnerability affecting at least three major crypto wallets – Ledger Live, Edge, and Breadwallet. The flaw allows hackers to spend Bitcoin more than once,  Coindesk report,Ed.

The bug, which the Tel Aviv-based firm calls BigSpender, allows a hacker to double-spend a user’s funds and possibly prevent them from ever using their wallet again. It works by exploiting how certain wallet’s handle Bitcoin’s replace-by-fee (RBF) function, a failsafe that enables users to swap an unconfirmed transaction with one that has a higher fee. “[BigSpender] can lead to substantial financial losses and in some cases to make the victim’s wallet totally unusable, with no way for the victim to protect themselves,” ZenGo CEO Ouriel Ohayon said in an email. “So this can be seen as a high severity attack.”

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Foxconn Imports Disrupted by India-China Tensions

Charlotte Henry ·

Imports to India by key Apple supplier Foxconn have been slowed as a result of escalating tensions between the country and China. Reuters reported that Apple is amongst the companies seeking to free its shipments.

Customs officers at Indian ports have held back shipments from China and sought additional clearances after deadly clashes at the disputed Himalayan border last month. The checks have been imposed without any formal order. While several companies such as Apple (AAPL.O) and Dell (DELL.N) have been battling to free stuck shipments, hundreds of employees at Taiwanese contract manufacturer Foxconn’s two plants in the south had no major work to do this week as shipments were delayed, sources said.