Lightning Network Developers Warn of Bug That Could Cause Loss of Bitcoin

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Developers have disclosed a security hole in various versions of bitcoin’s Lightning Network software that could cause users to lose money if not updated.The bug was first made public on Aug. 30 by bitcoin and Lighting developer Rusty Russel and confirmed Tuesday afternoon by Olaoluwa Osuntokun, CTO of startup Lightning Labs.It’s unclear how much bitcoin, if any, was lost, or how many users were affected.Multiple Lightning node versions are vulnerable and should be updated immediately, Osuntokun warned a developer mailing list, adding:An experimental layer-two solution, Lightning aims to allow nearly costless transactions, making bitcoin feasible for mundane transactions such as coffee purchases.But the bug shows the technology still has problems like any code-based financial product.“Security issues have been found in various lightning projects which could cause loss of funds,” Russel said in the original posting. “Full details will be released in 4 weeks (2019-09-27), please upgrade well before then.”Osuntokun emphasized…

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