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Topic: Replay attack after segwit2x fork if this happens (Read 288 times)

legendary
Activity: 3416
Merit: 1142
Ιntergalactic Conciliator
September 18, 2017, 01:29:01 PM
#1
I like to say that if all of this exchanges do this segwit2x fork and especially without a proper replay attack then will be very easy for someone to drain their original chain bitcoins from their platforms.
The steps that someone must do is very simple.
First you export the private key from a bitcoin core or a wallet address that you own and then you must import it to a wallet that support this fork.
After that the only think that someone must do is to sent segwit2x coins over and over again from the exchanges or processor payment providers like bitpay to his own wallet. The same time will happen excactly the same and to the original chain and your bitcoin wallet will fill up with bitcoins.
This scenario is very easy to happen from the forked chain  than from the original chain.
To protect themselves the exchanges and payment processor like bitpay or xapo from this they must close every transaction immidiently after the fork, and for sure to defeat this problem they will need to stop trades for days maybe more than a week.
The same scenario happens to ethereum-ethereum classic case and was the main reason why Coinbase loose almost all their ethereum classic coins from their platform.
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