Coding Error Discovered! Affecting the Secure Wallets of More than 90% of Cryptocurrency Exchanges & 3rd-party Wallet Providers?!
Just before the close of their ICO - CORION Platform announced the discovery of a coding error that would leave supposedly secure wallets completely exposed - No hacking required!
This wasn't just a flaw in Corion's wallet - but much more widespread - We're talking a major loophole in the code which governs storage of digital assets in the secure wallet.
According to the project founders...
"The vulnerability we found was a coding error which left most supposedly secure wallets completely exposed. One wouldn’t even really need to be a hacker to gain access to your digital assets – or your personal data.”
Now this discovery could have been handled differently - Especially since ICOs are still unregulated and any investor would have little recourse in the event of a security breach.
But it appears that's just NOT how Corion team operates! After uncovering the potential loophole in the wallet code could effect many crypto users - the team quickly took action...
“We basically threw the brakes on the release of the full CORION platform and secure wallet – not because we aren’t confident in our code, but because the safety and security of our users data and digital assets is our top priority.” Mike Denkler
So instead of forging on with their ICO as planned, they postponed the release of their wallet and platform in order to fix this potential breach. Working one-on-one with security experts, they have now published an open source solution available here on GitHub.
https://github.com/CORIONplatform/SafetyLook/tree/master/CorionSafetyLook/CorionSafetyLook
Can't get much better than that if you ask me
I posted recently about the bounty rewards being offered for bug fixes, which is noteworthy on it's own. But the Corion team went above and beyond by hiring an outside panel of experts to review the code, showing that the security of their users is paramount.
Read more about how it went down behind the scenes from the Corion team on their blog -
http://blog.corion.io/media/corion-ico-announcement/#
For a more technical perspective, I suggest reading their White Paper - https://corion.io/doc/technicalguide_v0.4_pub.pdf
And if you want to learn more about what makes CORION different, connect with our community on social media - all the links are on the website - https://corion.io/
Thanks for reading! Please share if you found it useful or interesting and leave a comment below :)
And PLEASE remember - This is not financial advice. I am not a professional investor or trader. ALWAYS do your own due diligence! Cryptocurrency or any investment comes with certain risks and you could lose all of your money at any time. So, be careful with your decisions. Research as much as possible before getting involved, and never invest more than you can afford to lose!
Damn, and I don't even partake in ICO's.
I like hearing about people and projects that are not scammy and do the right thing.
Thanks Sommer.
I met the founders of Corion platform myself at Consensus May 2017, and we have kept in contact. I feel they really care about having a positive impact on the road to achieving mainstream crypto adoption. And I can see them actively working towards developing a transparent and decentralized ecosystem that is fair and based on a stable value token - like Steemit! :)
In this crazy cryptosphere, it's possible that anything could be a scam - Until it isn't lol! Only time will tell, but I'm keeping my eyes on Corion expecting the best is yet to come.
You are really making an impact wherever you go and what ever you decide to type, I love hearing from you Sommer.
Aww shucks lol :) We do what we can right?
I try sister.
(:
i dont like ICO's in general they make me uneasy really a lot of them seem to hit problems just prior to launch , but its always when they have the investment funds, im not knowledgeable enough to know if they are genuine enough or not that is why i keep friends like you to do my thinking for me should we all be worried bosslady :)
Have you ever pre-purchased an initial coin offering before it went public? If so how much money did you invest? I keep watching the value of bitcoin going up and up and I think I need to buy some today diversify my portfolio. Steemit dollar 💵 would be backed by website and social media platform that's worth billions of dollars.
Does anyone think Facebook or Instagram will come out with her own cryptocurrency? What if there was a Facebook dollar that you could use to promote your kids soccer picture, Ha ha ha
I have never invested in any ICO, and I'm not a financial advisor - but I try to stay connected with the community behind projects with goals that seem to align with mine... :)
I'm new to crypto currency and have no idea about how people would hack into bit coin or steemit accounts. Is this online currency thing really safe?
It's like the wild wild west out here lol! I consider bitcoin and all cryptocurrencies to be an experiment, and will continue to remind everyone to do their own due diligence when it comes to ANY investment - Especially in something as new and disruptive as this :)
I just subscribed and followed to everybody that made a comment on this blog post @briandenver check out my blog and follow me if you'd like me to comment on one of your articles thanks
Which exchanges and wallets were affected? It might be easier to list the 10% that were not affected.
I know right?? I've been busy all day but I'm going to reach out to the Dev team now and see what details can be provided - this is something everyone should know about!
Okay thanks. Let us know if you get any more details.