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UniSat Wallet suffers several double-spend attacks

Cosmos vs Polkadot vs Venom02

Cosmos vs Polkadot vs Venom02

Unisat Wallet announced that it had suffered “a large number’ of double-spend attacks on April 24, a few hours after the Bitcoin Ordinals open-source Chrome extension crashed. 

UniSat Marketplace exploited shortly after launch 

UniSat Wallet experienced several double-spend attacks due to a compromise in its codebase a few hours after the extension crashed.

The company tweeted that they simulated different approaches to double-spend attacks’ and improved the code appropriately. However, some vulnerabilities exposed the initial public version to attacks. 

The platform tweeted that investigations were ongoing and identified 70 affected transactions out of the 383 total transactions.  UniSat Wallet vowed to compensate all the affected users and launched a reclaiming process through Discord.

All users with compromised accounts were advised to open a ticket on the company’s Discord server and provide wallet information about the involved transactions, including screenshots and addresses.

The growth of BRC-20

Unisat claims to be the first BRC-20 marketplace provider and wallet and is constantly facing numerous hindrances and requires the full support of its users.

The company urged users to bear with them as BRC-20 is still young, and the company has been actively scrutinizing and rectifying any noticeable errors in the last 30 days.

The UniSat Marketplace will be temporarily unavailable to users as the security team searches for possible vulnerabilities.

The wallet was attacked barely three weeks after Bitcoin Ordinals’ daily inscriptions went over the roof due to the adoption of BRC-20. 

Bitcoin Request for Comment, BRC-20, are experimental NFTs developed through Inscriptions and Ordinals and saved on the Bitcoin mainchain. The standard token exploits JSON data on Ordinal inscriptions to mint tokens, deploy token contracts, and transact tokens.

Bitcoin Ordinals unlocked a new all-time high on April 2, rising from 31,692 on March 9 to 58,179 inscriptions.

The 83.5% surge was spurred by the creation of BRC-20 tokens by Domo, a pseudonymous on-chain analyst, on March 10, 2023.

Bitcoin community members and enthusiasts are still debating whether Ordinals is a good product for the Bitcoin ecosystem. The conflict revolves around giving Bitcoin more financial power and nullifying Bitcoin’s founder Satoshi Nakamoto’s vision of a peer-to-peer cash system.

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