The BRC-20 wallet called Unisat, is a wallet built on the Bitcoin Blockchain to enable people to create their own tokens on the Bitcoin blockchain just like its done on the Ethereum blockchain. The BRC-20 wallet is a similar concept to the ERC-20 token on Ethereum that allows people to create their own tokens.
This concept was developed in the month of March and was built upon by developers using the controversial Ordinals inscription technique that was developed in January. Since the development of this technique, many coins have been created, such as $ORDI, $PEPE, and $MEME on the blockchain that previously only supported the Bitcoin token.
In a rush by many developers to develop wallets that can support this Bitcoins tokens, the UniSat wallet developers beat the rest to be the first to do so. However hours after the lunching of the open-source Chrome extension for Bitcoin ordinals, the wallet became inaccessible.
The UniSat Wallet team took to their website and twitter to announced that it was hit by a large number of double-spend attacks resulting from a vulnerability in its codebase.
“During our testing last week, we simulated different approaches to double-spend attacks and made improvements and enhancements to the code, Unfortunately, certain problems were still exposed in the initial public version.”
A preliminary investigation by the The UniSat Wallet extension’s team claim that 70 transactions were affected out of 383. Although the amount of money stolen is not yet reveal, but the team claim to have determined the identity of the hacker, and promised to compensate affected users.
Currently, we have preliminary investigation results, and out of all 383 transactions, 70 transactions have been identified as affected.
We will further investigate in the next few days and compensate users who are determined to be associated with the incident for their losses.
— UniSat Wallet – Store, Inscribe and Search. (@unisat_wallet) April 24, 2023