Bitcoin

April

<figure> 
 <figcaption>
   Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a> 
 </figcaption> 
</figure> 
<p>According to BitMEX Research, the analytic arm of cryptocurrency exchange BitMEX, an invalid Bitcoin block <a href="https://twitter.com/BitMEXResearch/status/1706966754331652164" rel="noopener noreferrer nofollow">was mined</a> by Marathon Digital Holdings earlier today. This is not an isolated incident, with similar cases occurring over the past few years.</p> 
<h2 id="why-it-happened">Why it happened</h2> 
<p>The invalidity of the block stemmed from what is identified as a "transaction ordering issue," where the transactions within the block were not in the correct order.&nbsp;</p> 
<p>Specifically, transaction A tried to spend an input from transaction B, but transaction B was included in the block after transaction A, rendering the block invalid. <a href="https://u.today/bitmex-research-on-ethereum-eth-20-roll-out-risky-complex-multi-year" rel="noopener noreferrer nofollow">BitMEX Research</a> outlined the technical specifics of the invalid block, providing comprehensive insights into the anomalies observed at block height 809478. The invalid block and its detailed line numbers can be viewed <a href="https://farside.co.uk/blocks/809478invalid.txt" rel="noopener noreferrer nofollow">here</a>.</p> 
<h2 id="past-instances">Past instances&nbsp;</h2> 
<p>Past instances include notable companies like Bitmain, which lost approximately $150,000 due to an invalid Bitcoin block in June 2019. The block <a href="https://twitter.com/BitMEXResearch/status/1148989508588883970?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1148989508588883970%7Ctwgr%5E6703e5bdba65dec59965dc85f4636a7b5141cfff%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fthenextweb.com%2Fnews%2Fbitmain-bitcoin-invalid-block-150000-mining-reward-lost" rel="noopener noreferrer nofollow">was rejected</a> by the Bitcoin network after being mined, resulting in the cancellation of the 12.5 BTC reward, equivalent to $146,200 at the time, which was meant for the miner. The resources allocated for mining the block were also lost.&nbsp;</p> 
<p><a href="https://twitter.com/BitMEXResearch/status/1642151592609607685" rel="noopener noreferrer nofollow">Another incident</a> in April 2023 saw F2Pool producing an invalid Bitcoin block at height 783426. BitMEX Research highlighted that the invalid block might have resulted from bad signature operations but did not confirm the reason.&nbsp;</p>

Invalid Block Found in Bitcoin Blockchain: Here's What Happened

Table of Contents

U_Today

Other articles published on Sep 27, 2023

Religious Leaders Role in Shaping AI in Worship

SEC boss scrutinized over crypto rulemaking and FTX ties

How to Trace Bitcoin Address Owner?

Stablecoins might “become a source of financial instability,” according to US Federal Reserve Banks.

Binance exits Russia after selling its subsidiary to CommEx for an undisclosed amount

Q3 2023 Global Web3 Security Report, AML Analysis & Crypto Regulatory Landscape

Join our free newsletter for daily crypto updates!