Home » Monero Identifies the Bug That Enables Hackers to Steal XMR From Exchanges

Monero Identifies the Bug That Enables Hackers to Steal XMR From Exchanges


Monero has on July 3 revealed several security vulnerabilities on the HackerOne report. The disclosure includes an exploit that allowed xmr to be stolen from the exchanges.

An attacker would send a counterfeit xmr to a particular exchange using the vulnerability. The xmr would then be converted to other coins after the account of the fraudster had been credited and later on, be withdrawn.

CUT coin’s lead developer commented the following with regard to the just uncovered breach:

“It is our belief that the vulnerability cannot be used to “mint” real, transactable monero out of thin air.”

To reward the developers for their effort, a bounty of 45 xmr (approx. $4,000) was given.

A substantial number of the disclosed vulnerabilities had been resolved a few months ago.

In April, Moreno developers identified and dealt with a bug that made funds in the Ledger hardware wallet look to have disappeared.

Based on the market capitalization, CoinMarketCap has ranked the privacy-focused altcoin as the 14th biggest cryptocurrency.

Source: https://cointelegraph.com/news/monero-discloses-bug-allowing-xmr-to-be-stolen-from-exchanges

About the author

James Lovett

James Lovett

James is a passionate writer on cryptocurrency industry and other disruptive technologies in the crypto world. He has written several crypto articles for numerous websites and blogs over the years.

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