‘Critical’ Vulnerability in Beam Wallet Could Have Put Funds At Risk, Devs Say After Fix

Developers behind the privacy-focused cryptocurrency Beam have revealed that the “critical” bug discovered and subsequently fixed in their wallet software last week could have put user funds directly at risk.

As stated in a Medium post published today, the vulnerability would have allowed an attacker to create “modified transactions” and subsequently send funds directly into the attacker’s wallet.

In an exclusive interview with CoinDesk, Beam CTO Alex Romanov explained that by leveraging Beam’s Secure Bulletin Board System (SBBS) – a custom-built system to enable offline encrypted messaging between Beam wallets – attackers “currently listening in on active SBBS addresses … would be able to cause these wallets to send money to an attacker.”

Continue Reading on CoinDesk

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.