Late last night, as most of us here in the U.S. slept soundly, a statement was issued by MtGox, one of the largest and oldest Bitcoin exchanges. The contents of that statement contained allegations that rocked the Bitcoin world and created a panic that saw market values dip nearly 25%. The allegation posed is that Bitcoin suffers from a critical security flaw that needs to be fixed before Gox feels comfortable using it again. Many parties, including Bitcoin’s own core developers have come forward to defend against these allegations, but what is the actual truth? What exactly is this “Transaction Malleability” vulnerability and how exactly was it exploited against MtGox? [Read more…]
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