Just before the close of their ICO - CORION Platform announced the discovery of a coding error that would leave supposedly secure wallets completely exposed - No hacking required!
This wasn't just a flaw in Corion's wallet - but much more widespread - We're talking a major loophole in the code which governs storage of digital assets in the secure wallet.
According to the project founders...
"The vulnerability we found was a coding error which left most supposedly secure wallets completely exposed. One wouldn’t even really need to be a hacker to gain access to your digital assets – or your personal data.”
Now this discovery could have been handled differently - Especially since ICOs are still unregulated and any investor would have little recourse in the event of a security breach.
But it appears that's just NOT how Corion team operates! After uncovering the potential loophole in the wallet code could effect many crypto users - the team quickly took action...
“We basically threw the brakes on the release of the full CORION platform and secure wallet – not because we aren’t confident in our code, but because the safety and security of our users data and digital assets is our top priority.” Mike Denkler
So instead of forging on with their ICO as planned, they postponed the release of their wallet and platform in order to fix this potential breach. Working one-on-one with security experts, they have now published an open source solution available here on GitHub.
https://github.com/CORIONplatform/SafetyLook/tree/master/CorionSafetyLook/CorionSafetyLook
Can't get much better than that if you ask me
I posted recently about the bounty rewards being offered for bug fixes, which is noteworthy on it's own. But the Corion team went above and beyond by hiring an outside panel of experts to review the code, showing that the security of their users is paramount.
Read more about how it went down behind the scenes from the Corion team on their blog -
http://blog.corion.io/media/corion-ico-announcement/#
For a more technical perspective, I suggest reading their White Paper - https://corion.io/doc/technicalguide_v0.4_pub.pdf
And if you want to learn more about what makes CORION different, connect with our community on social media - all the links are on the website - https://corion.io/
Thanks for reading! Please share if you found it useful or interesting and leave a comment below :)
And PLEASE remember - This is not financial advice. I am not a professional investor or trader. ALWAYS do your own due diligence! Cryptocurrency or any investment comes with certain risks and you could lose all of your money at any time. So, be careful with your decisions. Research as much as possible before getting involved, and never invest more than you can afford to lose!