It is reported that the American online retailer Overstock.com there is a problem with payments in the cryptocurrency. Because of mistakes the company’s clients could make a fortune by cancelling paid orders.
Last week, the company Bancsec specializing in security in the banking sector, told journalist Brian Krebs (Brian Krebs) that Overstock.com mistakenly took Bitcoin bitcoin instead of Cash as payment for goods. To confirm the existence of the problem, Krebs ordered a motion sensor for $ 78 on Overstock and decided to pay for it in bitcoins.
«Logging into your Coinbase account, I copied the bitcoin address and put it in the «to pay», and then gave Coinbase the command to send 0.00475574 Bitcoin bitcoin is Cash,» writes
Krebs on his website.
Because of the failure he was able to make a purchase at a 78 dollars by sending about $ 12 in Bitcoin Cash. Overstock has approved the transaction. However, even worse for the company if you cancel the order Overstock returned the funds in bitcoins.
Currently, one bitcoin costs around $14 000, while Bitcoin Cash – $2 500. Thus, any client could easily make a fortune just cancelling orders for expensive goods.
Krebs writes: «I approached the retailer for comment, and representatives Overstock.com said the company didn’t change code on their website and that their payment partner Coinbase fixed the mistake.»
Coinbase said that the problem was caused by «incorrect use of trading partner values return in our API», and noted that no other client Coinbase reported no such problems. The error has existed for about three weeks.
Krebs noted that he Bancsec searched for the same error from other trading companies who are «working directly with Coinbase to process bookings and payment,» but they found no other examples of similar bug.