Monero (XMR) developers warn they have discovered a "significant bug" in the cryptocurrency's decoy selection algorithm that may impact transaction's privacy. According to a series of tweets, the bug allows identifying the output of a transaction if a user spends funds immediately following the lock time in the first 2 blocks allowable by consensus rules.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.
This does not reveal anything about addresses or transaction amounts. Funds are never at risk of being stolen. This bug persists in the official wallet code today.— Monero || #xmr (@monero) July 27, 2021
The developers say users can simply reduce the risk to their privacy by waiting 1 hour or longer before spending their newly-received XMR. Until then, the developers are planning to work on a fix that will be added in a future wallet software update. A full network upgrade is not required to address the bug, the developers added.
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.