A analyze published on June 29 uncovered a way to drain Bitcoin (BTC) wallets’ money on the Lightning Network by exploiting a bottleneck in the process.
In accordance to the “Flood & Loot: A Systemic Attack On The Lightning Network” paper, Jona Harris and Aviv Zohar from the Hebrew University in Israel evaluated a systemic assault on the Lightning Network that enables for the theft of BTC money that were locked in payment channels.
Flooding the blockchain with simultaneous assaults
The Lighting Network is applied to send payments as a result of intermediary nodes, which can be leveraged to steal Bitcoin. This commonly must be completed promptly. Nonetheless, the helpful window of time could be prolonged by hackers flooding the community.
For the assault to be successful, hackers would only require to attack 85 channels simultaneously in purchase to steal cash from the community.
Specifics powering the assault
Scientists delivered more details, noting:
“The key concept driving Hash Time Locked Contracts (HTLC) is that right after they are set up, payments are ‘pulled’ by the target node from the prior node in the path by delivering a magic formula (a preimage of a hash). Our attacker will route a payment between his own two nodes, and pull the payment at the conclusion of the path. He will refuse to cooperate when the payment is finally pulled from the supply node – forcing the victim to do so by way of a blockchain transaction.”
The paper clarifies that the outcomes of the study have been shared with the builders of the 3 major Lightning implementations prior to publishing the report.
Cointelegraph claimed that the Vietnamese on line ticketing agency, Long term.Travel, now accepts Bitcoin payments by means of the Lightning Network. Money are transformed into area forex at the time of sale.
Credit: Supply connection