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This article contains some claims that are falsified. While not everything in the article is false, please proceed with extreme caution and verify any critical information independently.
This article contains some claims that are falsified. While not everything in the article is false, please proceed with extreme caution and verify any critical information independently.
Status
Last Updated
2025-05-08 06:13:48 UTC
Verified By
Rollup News
Mysten Labs discovered a vulnerability in a popular crypto exchange's proof-of-reserves protocol that could have allowed them to understate their liabilities. The issue was reported to the exchange, which worked with an audit firm to implement a fix using Merkle Trees. While past reports cannot be easily verified, the current system is more secure.
Vulnerability in a popular CEX's proof-of-reserves protocol
Potential understatement of liabilities by the CEX
Collaboration between Mysten Labs and the CEX to resolve the issue
Implementation of a more secure algorithm using Merkle Trees
Importance of proof-of-reserves for transparency and solvency
Vulnerability in the liability-reporting algorithm
Potential inaccuracy of past proof-of-reserves reports
Balancing security and optimization in the new algorithm
Ensuring the correctness of algorithms chosen by auditors