BitMEX Research has identified a suspected double-spend transaction valued at 0.00062063 BTC or roughly $21 \u2014 and it doesn\u2019t appear to be an instance of that popular replace-by-fee wallet hack. <\/p>\n
On Jan. 20, BitMEX\u2019s ForkMonitor noted that \u201cmultiple blocks were produced at height 666833.\u201d BitMEX Research tweeted:<\/p>\n
One hour later, BitMEX Research attributed the orphaned block to an RBF transaction, which is where an unconfirmed transaction is replaced with a new transfer paying a higher fee. However, ForkMonitor has since updated its advice to say: \u201cNo (RBF) bumps have been detected.\u201d<\/p>\n
Twitter-user and BSV\u2019s Australian advocate Eli Afram noted the \u201cmixed messages\u201d from BitMEX Research, asserting the double-spent transaction should be cause for concern despite its small value:<\/p>\n
\u201cSo it appears an actual Double-Spend has occurred on BTC… Not an RBF (replace-by-fee), but an actual double spend. A mere 22USD… but – this could have been 22million.\u201d<\/p><\/blockquote>\n
Satoshi Nakamoto\u2019s Bitcoin Whitepaper is credited with having solved the double-spend problem in 2009. The challenge of ensuring that a decentralized network can autonomously verify that the same coins have not been transferred more than once had stymied earlier attempts at digital cash.\u00a0<\/p>\n
In July, crypto security firm ZenGo identified a double-spend exploit targeting several popular Bitcoin wallets. While the wallet manufacturers moved to address the exploit, Bitcoin Cash proponent Hayden Otto warned the vulnerability may be inherent to BTC\u2019s replace-by-fee functionality. He\u2019d earlier exploited the same vulnerability in a viral video.<\/p>\n