Flexicoin bitcoin bank and poloniex bitcoin exchange hacked
In this case, the code is modifying two separate objects, one that holds EGS's balance and another one that holds Robert's balance. Bitcoin coincided with a particularly dark time in distributed systems when people, armed with an incorrect interpretation of the CAP Theorem, thought that they just had to give up on consistency in their databases, that no one could build distributed data stores that provided strong guarantees. Hacker and professor at Cornell, with interests that span distributed systems, OSes and networking. What Happened The problem here stemmed from the broken-by-design interface and semantics offered by Flexicoin bitcoin bank and poloniex bitcoin exchange hacked.
And that's exactly what the attackers did. This problem is so wide-spread, so embarassingly endemic that there have even been public discussions and possibly a third affected site. Popular bitcoin exchange Bitfinex hacked seeing almostbitcoin stolen in largest-ever cryptocurrency theft. Bitcoin prices fell sharply on 2nd August, extending declines as markets responded to news that a major exchange had been hacked.
Specifically, if multiple people simultaneously execute the code above, they might just go through those operations in lockstep. Even now, after next-generation NoSQL data stores, such as HyperDex and Google's Spannershowed that the tradeoffs in first-generation NoSQL systems are neither necessary nor desirable, there are still people who are trying to beat the dead horse of eventual consistency and weak APIs. What happened at Flexcoin, or Poloniex, or any of the other Bitcoin exchanges beset by technical problems and I'm looking at you Coinbase!
Let's look carefully into what must have happened here, before we examine why it happened. Ensuring that these two transactions are atomic, consistent, isolated and fault-tolerant is a difficult thing to do. They are based on transactions with ACID guarantees. Specifically, if multiple people simultaneously execute the code above, they might just go through those operations in lockstep. Bitcoin flexicoin bitcoin bank and poloniex bitcoin exchange hacked with a particularly dark time in distributed systems when people, armed with an incorrect interpretation of the CAP Theorem, thought that they just had to give up on consistency in their databases, that no one could build distributed data stores that provided strong guarantees.
It's a well-known result in software engineering that even when you have N different teams independently developing software that has nothing in common, they will run into the same issues around the same pain points. We now have the technology to do it correctly, and to do so with higher performance than the NoSQL systems of yesterday. Posts about bitcoin exchange hack written by Ilias Louis Hatzis.