Crypto Stories #9 : When IOTA Invented Its Own Code… and Almost Lost Everything! 😱🕸️

In 2017, the founders of IOTA wanted to be clever: instead of using a recognized algorithm like SHA-256, they created their own system, called Curl.

Problem: their invention contained a critical flaw that could have allowed for transaction falsification and destroyed all trust in IOTA.

Fortunately, the vulnerability was spotted before it could be exploited… but this episode left a mark.

💡 Moral: in crypto, wanting to “reinvent the wheel” can be very, very costly.

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