UniSat Wallet's Bitcoin Ordinals Extension Under Siege by Numerous Double-Spend Attacks

UniSat Wallet’s Bitcoin Ordinals Extension Under Siege by Numerous Double-Spend Attacks

The Bitcoin Ordinals, a renowned add-on to the UniSat Wallet, has reportedly experienced a considerable number of double-spend attacks. Several individuals have expressed their concerns about the issue through social media, stating that their transactions were being reversed and their funds were being stolen. The UniSat Wallet team has acknowledged the problem and is currently taking the appropriate actions to address it promptly and effectively.

Double-spending Attacks Overview 

Double-spending is a security breach that can affect certain cryptocurrency wallets. This breach occurs when a user initiates two separate transactions using the same funds and sends them to different addresses. 

While the first transaction is confirmed by the network, the second is usually declined. Consequently, the user can spend the same funds twice, which poses a significant problem. 

Recently, ZenGo, a startup that specializes in mobile cryptocurrency wallets, was the first to discover this vulnerability. They found that even some of the most widely-used cryptocurrency wallets were susceptible to this type of attack.

The UniSat Wallet team has refrained from giving any additional details regarding the double-spend attacks or the extent of users affected. However, they have assured users that their funds are safe and that they are actively pursuing a resolution. It is advisable for users to exercise prudence when using the UniSat Wallet and to meticulously monitor their transactions during this period.

UniSat Wallet Offers Compensation to its Users

UniSat Wallet has made an official statement to its users to provide compensation for any losses that may have been incurred as a result of the recent incident. In the next few days, a thorough investigation will be carried out, and the affected users will be adequately compensated. 

UniSat Wallet has advised users who suspect that they may have been impacted to open a support ticket on its Discord server. It is essential to note that the BRC-20 is still in its early stages. While several problems have been identified, they also have been already resolved within the last 30 days, as stated in a recent tweet by UniSat Wallet.