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Bitcoin Core Unveils 2 Security Advisories to Safeguard Cryptocurrency Network

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Sheena Jordan reporter

Thu, 01 Aug 2024, 10:46 am UTC

New security advisories by Bitcoin Core target recent vulnerabilities. Credit: EconoTimes

Bitcoin Core has announced two new security advisories aimed at mitigating vulnerabilities and ensuring the network's security amidst growing adoption.

Bitcoin Core Faces Spam Threats

Coins and other digital assets are often lost due to security breaches or exploits. On the other hand, cryptocurrency companies are actively looking for ways to safeguard their platforms and the people who utilize them.

The revelation of remote crashes caused by spam email addresses is one example of such an occurrence, Coingape reports. Here, addr messages meant to crash the system could lead to spammed nodes.

Nevertheless, Bitcoin Core v22.0, released on September 14, 2021, addressed this problem. A rogue UPnP device on the local network crashed nodes, which was another vulnerability that had a remedy released on the same day.

Bitcoin Core Fixes New Vulnerabilities

On June 3, 2020, Bitcoin Core 0.20.0. was released, which addressed two vulnerabilities and brought three fixes overall. One concern is the possibility of a silent crash in Bitcoin-Qt's BIP70 implementation while accessing a BIP72 URI. We need the second one in case the receiving node's CPU becomes overloaded by a GETDATA message that isn't valid.

One tackles the problems that arise when nodes give an attacker as much as 50 MB of RAM using malicious INV messages. These vulnerabilities are typically rated as Low, Medium, High, or Critical according to their severity.

Grayscale's Bitcoin Inflows Surge

The release of these security advisories by Bitcoin Core coincides with the increased interest in the Bitcoin landscape. Given how little time has passed, spot Bitcoin ETFs have achieved remarkable strides. Despite Grayscale's withdrawals, the inflows are continuing to surge in. There was an 11% decline in Grayscale GBTC value during Tuesday's trading session.

However, market watchers believe it's in response to GBTC's impending transfer of some BTC assets to the recently formed Mini trust.

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