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Bitcoin Ordinals extension inaccessibility leads to double-spend attacks on first BRC-20 wallet provider

Bitcoin Ordinals extension UniSat Wallet hit by large number of

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TL;DR

  • UniSat Wallet, the first BRC-20 wallet and marketplace provider, was hit by many double-spend attacks resulting from a vulnerability in its codebase.
  • UniSat Wallet promised to compensate affected users after conducting further investigations over the next few days.

UniSat Wallet, the first BRC-20 wallet and marketplace provider, was hit by many double-spend attacks resulting from a vulnerability in its codebase. The attacks occurred just hours after the open-source Chrome extension for Bitcoin Ordinals became inaccessible.

UniSat Wallet explained on Twitter that during its testing last week, it had simulated various approaches to double-spend attacks and had made improvements and enhancements to the code. Unfortunately, certain problems were still exposed in the initial public version. According to a preliminary investigation by the extension’s team, 70 out of 383 transactions were affected.

UniSat Wallet offers compensation to affected users following vulnerability in codebase

UniSat Wallet promised to compensate affected users after conducting further investigations over the next few days. It also requested users who believe they were impacted to open a support ticket on its Discord server.

“Please understand that BRC-20 is still very young, and numerous issues have been identified and resolved in the past 30 days,” UniSat Wallet tweeted. “As the first BRC-20 wallet provider and the first marketplace provider, UniSat is constantly facing numerous issues and moving forward with your full support.”

The BRC-20 token standard is a relatively new and experimental fungible token standard created using Ordinals and Inscriptions, which are saved on the Bitcoin blockchain.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

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Damilola Lawrence

Damilola is a crypto enthusiast, content writer, and journalist. When he is not writing, he spends most of his time reading and keeping tabs on exciting projects in the blockchain space. He also studies the ramifications of Web3 and blockchain development to have a stake in the future economy.

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