Is it a good time to buy Monero (XMR)? 20572
Analysis
Pinaz Kazi
Aug 8, 2018 at 11:13 AM

Security flaws have being blamed for a recent Monero (XMR) hack, leading to the question whether it is a good time to buy XMR or not. Though the vulnerabilities are said to be minor, but apparently hackers can penetrate in the system and forge their own Monero. They can then trick the support staff to crediting their account manually with extra tokens, The Next Web reported.

In fact, a post on HackerOne cited the source of the problem. “Due to a flaw in process_new_transaction in wallet2.cpp, if the tx pubkey is present multiple times, it will decode outputs correctly as many times, and add up the amounts. This means the final amount reported by show_transfers will be the actual amount received multiplied by the number of duplicate tx pubkeys present in the transaction extra field,” reads post on HackerOne.

See also: Monero [XMR] troubled by security glitch: XMR Price tumbles

A patch has now reportedly resolved the issue. However, for those who want to buy XMR, this isn’t the only problem.In a bug finding program, HackerOne, experts have found six more security flaws. However, reports suggest that just like the wallet flaw, all of the other vulnerabilities have also been fixed.

Monero (XMR)’s current scenario

There’s no doubt Monero’s status has taken a beating after all the security issues it faced. As far as price is concerned the charts show that XMR has remained bearish. People in crypto space would know that it is not too uncommon but the security flaws is definitely making it difficult for the crypto.

What’s all the more sad for the community is that the flaws are overshadowing all the good work done by the crypto like Change.org choosing Monero for its funding system.

See also: Monero (XMR) mining malware attack claims 200,000 victims

However, those wanting to buy XMR, the good thing is Monero is taking steps to address these issues. Moreover, falling victim to hackers is also not new in the crypto world. If Monero fixes all the security concerns and pass the difficult patch, it might turn out to be an important part of the industry. In fact, keeping that in mind one can take the opportunity of the recent dip to buy XMR with hopes of that Monero will solve the issues and soon will gain the bullish momentum.

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