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Caution: A bug on the Monero blockchain affects the privacy of transactions

2 min read

According to recent tweets, the developers of the token to protect privacy Monero (XMR) found a bug that violates the privacy of transactions.

Caution: A bug on the Monero blockchain affects the privacy of transactions

The official Monero Twitter account warned users of a “relatively significant error” in the Decoy system. A mistake was discovered by software developer Justin Berman, when he discovered that if a user sent their XMR tokens 20 minutes after receiving them (two-block time), it was likely that his transaction would be identified, violating privacy.

““Today, if a user spends an output right in the block that it unlocks, and the output was originally created in a block that has fewer than 100 outputs total in it, their real output would be clearly identifiable in the ring.”

The XMR community is concerned with privacy issues

Despite Monero’s efforts to calm his community, the announcement was quite influential. Most Twitter users are very concerned about their privacy.

However, the developers said that users should not be afraid, because this error will not reveal the amount sent or the address, and that there is no risk of theft of funds. It only affects funds sent within 20 minutes of receiving them, which is a time of two blocks.

Wait at least an hour before sending your XMR

Monero’s developers said they are working to fix a bug in a future wallet software update, and that no hard forks would be required. Users should wait at least an hour before submitting their coins.

Berman also said that Monero currently has an annual average of around 63 outputs per block, which means that users were exposed to error if they sent their coins immediately upon receipt and transactions are therefore likely to be identifiable today.

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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