A $ 5 million deposit in the Filecoin project tokens was duplicated on Binance

The developers of the Filestar project and blockchain observer Filfox discovered that FIL tokens worth about $ 5 million for some unknown reason entered the Binance exchange twice.

New incident report on today’s exchange bookkeeping issue that resulted from using the Lotus API incorrectly. Learn more about what happened, actions being taken, and the technical details here: https://t.co/D9sWIlZGdM

– Filecoin (@Filecoin) March 19, 2021

The incident took place on the night of March 18-19. In the screenshot below, two transactions for 61,200 FIL on block # 590662 are highlighted in red.

Data: filfox.info.

The developers initially assumed that what happened was a double waste, reporting this to several Chinese media outlets.

Shortly thereafter, crypto exchanges Binance and OKEx suspended FIL deposits as a precautionary measure.

The California blockchain startup Protocol Labs, behind the development of Filecoin, said the problem was not double spending and there was no “major bug,” as some media outlets wrote. The project experts said that the problem is on the side of Binance.

“The Lotus team scrutinized the report and found no issues with the Filecoin network or the RPC API code. No double spending was found in the blockchain, there is no bug in the API code. The relevant exchange has already canceled the invalid transaction in its accounting system (no funds were lost). The platform is revising the logic for processing deposits in order to fix the API, ”says the blog of the Filecoin project.

The developers added that other exchanges have been notified and similar problems with the API were no longer observed.

Binance has not yet commented on the incident.

Hodlmonks previously reported that Filecoin’s network capacity has reached 2.5 billion gigabytes . This is the equivalent of 11,250 copies of Wikipedia or 47 copies of the Internet Archive.

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