Developers Warn BIP-110 Could Trigger Bitcoin Fork Risk, Selling Fork Coins May Lead to Real BTC Being Stolen
According to TechFlow, on August 8, Bitcoin developer Kevin Loaec warned that if a Bitcoin fork related to the controversial proposal BIP-110 occurs this weekend, holders may face the risk of real BTC being transferred when selling fork chain tokens.
Reports indicate that if two chains appear on the Bitcoin network, users' BTC balances may exist on both chains simultaneously. Some traders may attempt to sell fork chain tokens, but since the two chains may lack Replay Protection initially, signed transactions used to sell fork coins may be copied to the original Bitcoin network, resulting in real BTC being transferred out.
Kevin Loaec stated that without understanding how to safely split assets on the two chains, the safest option for holders is to temporarily refrain from any on-chain operations. Unmoved BTC will not be affected by replay attacks because there are no signed transactions that can be copied.
This risk stems from the BIP-110 proposal. The proposal aims to restrict non-payment data such as images and text included in Bitcoin transactions. As it has not currently received sufficient miner support, software supporting BIP-110 may begin rejecting blocks that do not comply with the rules after the expected block height of 961,632 is reached, thereby forming a fork competing with the main chain.
Currently, the BIP-110 miner signal support rate is approximately 2.6%, far below the level required for activation. Therefore, whether an actual fork will form remains uncertain. If a minority of miners continue to maintain the BIP-110 chain, the market may see two independent transaction histories.
Analysts point out that in the early stages of the fork, users need to proactively complete asset isolation; otherwise, in the absence of replay protection, trading fork chain assets may accidentally transfer real BTC. Relevant transaction restrictions are expected to officially take effect around early September.
