Discussing The Fake Peer Attack On Bitcoin
Discussing a recent attack on the Bitcoin network, in which some nodes were flooding peers with fake IP addresses.Watch This Episode On YouTubeListen To This Episode:BitcoinTVAppleSpotifyGoogleLibsynOvercastBitcoin was under attack! It’s the story the mainstream media won’t tell you!Hosts Aaron van Wirdum and Sjors Provoost finally met in Utrecht again to record "Bitcoin, Explained." In this episode, they discussed a recent attack on the Bitcoin network, where some nodes were flooding peers with fake IP addresses.“These random people that were connecting to them would send 500 messages,....
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The community supporting OpalCoin, an anonymous cryptocurrency offering decentralized storage, was recently under siege of a fake-wallet attack. A hacker stole almost 17% of the coin supply, most of which has been recovered. The Opal team announced the hack on the Bitcoin Talk forums on December 15th. The hacker spread a fake-wallet virus through the forums. The Opal team had recently posted a legitimate link on the BitcoinTalk forums to the download to their latest client. Diabanhxeo, the hacker’s profile name (ID# 210031), quoted the link on a post, but changed the link to a malicious....
Additional comment added from Chainalysis CEO Michael Grønager. Compliance startup Chainalysis was forced to defend itself today after allegations its surveillance tactics had disrupted services and threatened the privacy of bitcoin users. The Swiss company, headed by ex-Kraken COO Michael Grønager and former Mycelium engineer Jan Møller, created over 250 'false' bitcoin nodes to harvest information on the whereabouts of transactions. The firm claims these nodes have now been shut down. Three Bitcoin Core developers, Wladimir van der Laan, Peter Todd and Gregory Maxwell, say Chainalysis'....
It also does not matter what hardware is used to run OpenBazaar, as this is a software-side exploit that works in the same manner for every device. OpenBazaar is one of those Bitcoin-based projects which has gained a tremendous following right off the bat. By letting anyone run their own decentralized marketplace and accept Bitcoin payments, this solution will take ecommerce to a whole new level. But as it turns out, there is a man-in-the-middle attack opportunity during the update process. When OpenBazaar users conduct an update, the process is completed within the browser itself. Instead....
Eclipse attacks are a sort of cyberattack in which an attacker creates a fake environment around a single node or user, allowing the attacker to manipulate the node into doing a malicious action. What can blockchain developers learn from eclipse attacks?Developers can familiarize themselves with the vulnerabilities in Bitcoin nodes that can be exploited to replace legitimate peer addresses with their own.Technically, when the node selects IP addresses from the tried bucket with timestamps, it increases the probability of the attacker getting selected. This is true even if the attacker only....
A group of researchers has proposed a new way to more closely monitor the behavior of nodes that relay information on a blockchain network. Published by academics at Zhejian University, the National University of Singapore and Tianji University, the paper, the authors believe, could one day help ease cybersecurity issues around the tech. Within the context of bitcoin, nodes store the network’s transaction history, maintaining and sharing information about the blockchain with connected peers. Yet any peer-to-peer system faces unique kinds of cybersecurity concerns, including Sybil attacks,....