A wrong code has been at the origin of the loss of $ 500 million of crypto-currencies in less than a year

Several factors can cause the loss of a digital currency. There’s piracy, forgotten passwords, or even flash drives that are faulty. But one of the main causes of losses of crypto-currencies is a bad code, and this is usually not the fault of the developers. But, unfortunately, the developers of intelligent contracts and exchange platforms are to blame for the loss of crypto-currencies, with a value of half a billion dollars over the last seven months.

Discover in detail this case :

The Code Dodgy, causing the crash of Bitgrail

Last week, NewBitcoin has reported a new on Bitgrail. This company has lost $ 170 million of crypto-currencies. This situation would have caused the collapse of the company. The assets of thousands of clients have not always been made, because of this bad code. As pointed out at the time, there were rumors that Bitgrail became insolvent due to a bug of withdrawal that has been discovered by some users.

After this incident, the allegations have confirmed that the bug was actually responsible for these losses. A source said that there had been a bug on the page of withdrawal.

Ethereum often faced with the bug

The crypto-currency most often associated with bugs is Ethereum. This is not due to its underlying code, but because of the intelligent contracts that may be established in addition to the framework of Ethereum. First, there was the DAO, which has led to the closure of the platform, then the bug which has resulted in the loss of 150 000 ETH, followed by another problem which blocked 168 million of Ethereum.

Source : Pixabay. A significant loss of Ethereum because of bad code.

Over the past two weeks, bad codes have surfaced, but on a smaller scale. In fact, a bug has contributed to the loss of 900 Ether worth 1 million dollars. The developer of Proof of Weak Hands then disappeared after receiving death threats from the part of investors.

Source : NewsBitcoin