Bitcoin developer Kevin Loaec has issued a warning about a possible bitcoin fork connected to the controversial proposal BIP-110. If the fork happens this weekend, holders who sell the resulting forked-chain tokens may face the risk of having their real BTC stolen. The proposed fork could lead to duplicate balances existing on both chains. This might tempt holders to sell what appear to be free forked coins. However, during the initial phase, both chains accept the same set of transactions. As a result, selling forked coins could trigger a replay attack, where the seller's genuine bitcoin on the main chain is spent at the same time. The developer stated that there is no built-in replay protection, at least until early September. Therefore, non-professional users should avoid moving bitcoin during the potential fork. This warning highlights the danger of interacting with forked assets without proper safeguards.
Bitcoin developer Kevin Loaec has issued a warning: if a bitcoin fork tied to the contentious BIP-110 proposal takes place this weekend, holders who sell forked-chain tokens could see their real BTC drained.
The proposed fork could create duplicate balances on both chains, encouraging holders to sell what look like freely obtained forked coins. However, since the two chains initially accept identical transactions, selling forked coins may trigger a replay attack, which would simultaneously spend the seller's genuine bitcoin on the main chain.
Loaec noted that there is no built-in replay protection, at least until early September, and advised non-professional users to avoid moving bitcoin during a potential fork.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
