Filecoin "Double Spend" Incident Turns Out to Be a False Alarm?
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Filecoin "Double Spend" Incident Turns Out to Be a False Alarm?
The official announcement from Protocol Labs stated that, according to confirmation by the Filecoin development team, Filecoin does not have a double-spending issue.
Navigating Web3 tides with focused insightsOn the evening of the 18th, users reported that after depositing FIL into an exchange and performing a double-spend operation, they still received another withdrawal of the same amount of FIL. Some investors believe they have encountered a "double spend" issue.
"Double spending" refers to the act of spending the same digital funds twice. In cryptocurrency systems, due to the replicable nature of data, it's possible for the same digital asset to be used more than once through improper operations.
Without appropriate mechanisms in place, protocols alone cannot fully resolve double spending issues, as users cannot verify whether the funds they receive have already been spent elsewhere.
Currently, Binance, OKX, and MXC have suspended FIL deposits.
Subsequently, developers from Filecoin explorers Filfox and FileStar stated that after careful and detailed analysis, they confirmed a serious flaw in the deposit process recommended by the official Filecoin website to exchanges. This flaw allows specially crafted transactions to bypass exchange deposit verification, enabling double spending. Through this method, one exchange has already recorded approximately $5 million worth of fake FIL deposits.
This claim was refuted by the official Filecoin team.
The official Filecoin Twitter account responded: "The Lotus team received a report from an exchange regarding incorrect use of the Lotus API to verify transfers/deposits on the Filecoin network. The team conducted an investigation and found no network issues or API bugs. They are now working with the relevant exchanges to ensure correct API usage."
According to Filecoin miners from Filfox and FileStar, Binance processed a "double deposit" of FIL on Wednesday, amounting to several million dollars.
CoinDesk reported that this is not a true "on-chain double spend," but rather caused by a "critical bug" in Filecoin's remote procedure call (RPC) code, which led Binance to record a single deposit twice.
In the early hours today, Protocol Labs officially stated that after confirmation by the Filecoin development team, there is no double spending issue on Filecoin. According to on-chain state verification, the second transaction reported by users as evidence of double spending shows "N/A," meaning it did not succeed. The confusion may have arisen from the Filfox explorer's frontend, leading some users to mistakenly believe double spending was possible during exchange deposits.
Crypto influencer Wu Shuo Blockchain commented on the incident, suggesting this public relations campaign was clearly an open strategy orchestrated by the "Shuaichu camp."
"Both the Filecoin explorer Filfox and the forked coin Filestar are allies of Shuaichu's Pomegranate Mining Pool. Given Protocol Labs' timely clarification, recent price surges, and strong community unity, this attack appears to have had limited impact on Filecoin. However, the real objective may not have been to harm Filecoin at all. Filestar, the forked coin promoted by the Shuaichu camp, has surged nearly 300% over the past seven days—suggesting the main goal was likely to boost visibility and value for their own forked token."
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