Over the weekend, various high-level security researchers and academic cryptographers gave cryptocurrency project IOTA a failing grade – exposing a critical weakness and suggesting investors sell their coins while asking researchers to ignore or abandon the project.
The controversy began after a series of once-private emails from various IOTA team members and a group of external security researchers was leaked, putting on display the developers’ apathy and arrogance towards a critical flaw in IOTA’s foundation.
First and foremost, Boston University Ethan Heilman discovered that IOTA’s in-house hash function, titled Curl, was broken. Heilman and other researchers from the Digital Currency Initiative published a report exposing the flaw — and the team at IOTA didn’t like that.
If you want a postcard summary of why you should avoid the Iota project — with your brains and your money — this conversation is it. pic.twitter.com/lc8pR41M2W
— Matthew Green (@matthew_d_green) February 23, 2018
The leaked emails in response to the published report show an uncooperative team at IOTA dispute the researchers’ claims by calling it fraudulent. IOTA Co-founder Sergey Ivancheglo even immaturely threatened legal …
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