BitMEX Research states that it is a $ 21 double-spent Bitcoin transaction. BitMEX Research identified a suspicious double-spending transaction worth 0.00062063 BTC, or about $ 21. This does not appear to be an example of a fee replacement wallet hack.
On January 20, ForkMonitor from BitMEX stated that “multiple blocks with a height of 666833 were produced”. BitMEX Research tweeted this:
An hour later, BitMEX Research tied the orphaned block to an RBF transaction, where an unconfirmed transaction was replaced with a new transfer that pays a higher fee. However, ForkMonitor has since updated its advice as follows: “No (RBF) process has been detected.”
Twitter user and BSV’s Australian advocate Eli Afram pointed out the “mixed messages” from BitMEX Research, suggesting that despite the small value of double spending, it should be a cause for concern:
“So, it looks like a real Double Spend has occurred in BTC… Not an RBF (substitution with fee), but a real double spend. It’s only $ 22, but it could have been 22 million. ”
Satoshi Nakamoto’s Bitcoin Whitepaper is considered to have solved the double-spending problem in 2009. The difficulty of a decentralized network being able to autonomously verify that the same coins were not transferred multiple times prevented previous digital cash initiatives.
In July, crypto security firm ZenGo detected a double-spend infiltration targeting several popular Bitcoin wallets. As wallet makers took action to address this infiltration, Bitcoin Cash advocate Hayden Otto warned that the vulnerability may be inherent in BTC’s exchange for fees. It had exploited the same vulnerability in a viral video before.