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Startup From Israel Discovers Vulnerability In Its Crypto Wallet


The development team of the Israeli blockchain startup Beam, which released the privacy-oriented crypto of the same name in early January, announced on Twitter that it had found a critical vulnerability in its crypto wallet.


The company’s specialists asked customers to remove the Beam Wallet application and then install the updated one without the bug from the website.

The startup also warned users on its GitHub page. Besides, it is reported that the detail information will be provided during the week to exclude exploits — programs or codes that can use the vulnerability to attack the system.


The startup representatives emphasize that the problem has affected all early versions of the wallet, including Dekstop and CLI. However, there is no need to delete crypto wallet databases, because the vulnerability does not influence their data, passwords or private keys.

The issue in the software was revealed by the developers, nobody knew about it except for the Beam experts. Alex Romanov, the technical manager of the startup, stated that the difficulties had been eliminated, and the miners and nodes were not affected.


The problems arose a few days after the launch of the Beam crypto with the use of the Mimblewimble protocol. The technology allows keeping transactions confidential and makes them more efficient from a security point of view.

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