{"id":2357,"date":"2014-02-10T09:28:44","date_gmt":"2014-02-10T14:28:44","guid":{"rendered":"https:\/\/ktsl888.com\/?p=2357"},"modified":"2020-10-07T11:40:05","modified_gmt":"2020-10-07T11:40:05","slug":"mt-gox-delivers-update-withdrawals-blames-bitcoin-bug","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/mt-gox-delivers-update-withdrawals-blames-bitcoin-bug\/","title":{"rendered":"Mt. Gox Delivers Update on Withdrawals, Blames Bitcoin Bug"},"content":{"rendered":"
“A bug in the bitcoin software makes it possible for someone to use the Bitcoin network to alter transaction details to make it seem like a sending of bitcoins to a bitcoin wallet did not occur when in fact it did occur,” the statement reads. “Since the transaction appears as if it has not proceeded correctly, the bitcoins may be resent.”<\/p>\n Gox says the bug has been “largely ignored”, known to at least some of the core bitcoin developers.<\/p>\n This defect, known as “transaction malleability” makes it possible for a third party to alter the hash of any freshly issued transaction without invalidating the signature, hence resulting in a similar transaction under a different hash.<\/p><\/blockquote>\n According to Gox, if the wrong-doer is quick enough (has a small amount of mining power or a connection to a number of mining pools), he can cause hash alteration to be logged in the blockchain.<\/p>\n Mt. Gox proposes using a different hash for transaction-tracking purposes.<\/p>\n While the network will continue to use the current hash for the purpose of inclusion in each block’s Merkle Tree, the new hash’s purpose will be to track a given transaction and can be computed and indexed by hashing the exact signed string via SHA256 (in the same way transactions are currently hashed).<\/p>\n This new transaction hash will allow signing parties to keep track of any transaction they have signed and can easily be computed, even for past transactions.<\/p><\/blockquote>\n Gox is warning all other exchanges and services sending to third parties to be wary of requests of transactions not going through, and notes they are working hand-in-hand with the bitcoin core development team to approve and standardize the new hashing method.<\/p>\n At that point, withdrawals shall resume. Of course, there’s no telling just how long the wait will be for Gox customers, but it’s certainly good the exchange is taking this head-on. More updates to follow as they become available, as always.<\/p>\n (Read the whole press release<\/a>)<\/p>\n <\/p>\n As one would come to expect, the community isn’t taking Mt. Gox’s claims very well.<\/p>\n “It’s a big in their handling of payments, not in Bitcoin,” said software developer Oleg Andreev on Twitter<\/a>. A number of others echoed the sentiments, expressing disappointment in Mt. Gox for spinning the issue.<\/p>\n
\nFollowing a very dramatic halt of all withdrawals last week<\/a>, Mt. Gox has delivered an update on getting money out of the exchange, and for now, it’s not exactly looking good for the consumer.<\/p>\nPossible solution<\/h2>\n
Community Responses<\/h2>\n