ElectrumSV an open source wallet for managing Bitcoin SV (BSV) assets has recently came to the spotlight for some of the wrong reasons with its latest release of the software. The newest version of 1.3.7 delivers with an option for the user to switch from the default multi-signature script type to an "accumulator multi-signature" which is at the heart of the newest bug.
- As per today's blog post by BSV developer users of ElectrumSV are advised to stick with default script types unless they are willing to take on a risk of losing their assets.
- The blog post comes after a user who was following BSV at least since CoinGeek 2019 Seoul conference where the multisig accumulator feature was first announced has been now reported the first victim of a bug in the newest feature, resulting in a loss of 600 BSV worth roughly $100,000 at the time of 8th November 2020.
- From the analysis by many cryptographers including Adam Back himself there appears to be a logical error in one of the checks within the new multisig solution with perhaps something as silly as wrong equality check, putting BSV developers & testers into shame.
- Furthermore from the blog post of the victim explaining the story there is an screenshot of the conversation of him with a developer who developed the code, including regression tests for the solution. Interestingly the developer first of all picks on the fact that the victim has used such a large sum of tokens for the transfer with a "wtf, why did you put 600 BSV in it?" to later state that "Just because we implement something does not mean that it's tested to a professional level, you should always do small amounts".
- Although many users do not use the multisig functionality in the ElectrumSV wallet and even fewer are as enthusiastic to try out newest features that they've been waiting since a year's ago conference, hopefully this story highlights the problem with lack of proper testing which could've avoided this situation entirely.
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