Crypto Coins has discovered a major weakness in the Bitcoin blockchain.
The company has released a security update for Bitcoin that will fix the issue.
“This update fixes a flaw that was discovered by Crypto Coins in the bitcoin blockchain,” the company wrote in a blog post on Tuesday.
“This flaw was discovered because the client of the Bitcoin network uses a malicious code to modify transactions in a way that makes it difficult to validate the block chain.”
The flaw, which affects the Bitcoin client only, allows attackers to generate fake transactions with the Bitcoin address “violet-coin”.
The attack would then be executed on the Bitcoin transaction that was submitted by the attacker.
An attacker could then use this fake transaction to send bitcoin to a wallet with a malicious address, which would be sent to the recipient’s Bitcoin address.
“The issue affects the transaction validation process in Bitcoin, where transactions with multiple outputs are validated by hashing and concatenating them into a single transaction,” Crypto Coins explained.
“The malicious transaction can thus make it difficult for the Bitcoin Network to validate these transactions.”
Crypto Coins has released the updated Bitcoin client, which is available for download at a link.
Crypto has also published a security advisory that warns users to keep their bitcoin safe.
“While we do not recommend running any of our products on compromised computers, there is no excuse for running any Bitcoin software on compromised machines,” the advisory states.
We recommend keeping your wallet password and password recovery key on hand, and using a strong password for every wallet you use.” “
In addition, Crypto Coin customers who use the Bitcoin software should be very careful when using any Bitcoin client to send money.
We recommend keeping your wallet password and password recovery key on hand, and using a strong password for every wallet you use.”
The Bitcoin blockchain is the backbone of the network, and any malicious activity on the blockchain can be tracked by a single node on the network.
Users can use the bitcoin-qt wallet to securely store funds, which are stored on the Blockchain.
As well as the Bitcoin wallet, the Crypto Coins website also lists the following other wallets:A separate advisory released on Tuesday also warns of the risk of running untrusted Bitcoin software.
“As of this moment, we have not found any malicious software that can run on Bitcoin, but we do have concerns for users who have the Bitcoin-qt client installed and running on compromised systems,” the Crypto Coin advisory reads.
“If you have used a Bitcoin-client that you have not verified, please be aware that you could be exposed to this vulnerability.”
As part of the update, Crypto Coins is also advising users to make sure they have their wallet passwords and password reset key on them.
“Crypto Coin users should be careful when choosing a Bitcoin wallet as it is possible to use malicious Bitcoin software that could compromise the blockchain,” it continued.
“It is important that users are aware that running Bitcoin software can lead to the loss of the funds in the wallet.”
Users should also take the time to set up a backup of their wallet in case any of the wallet’s private keys or private keys’ recovery keys are lost or stolen,” the advice continues.