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2019-09-11

Bug Found and Fixed in the Libra Code

Developers working for OpenZeppelin, an external auditing firm specializing in cryptographic currency, have discovered and fixed a gap in Libra's open-source Facebook code.

The cryptographic audit company found vulnerabilities in Move, which is a scripting language developed by Facebook for its Libra stabilcoin. OpenZeppelin CEO Demian Brener said that the gap would allow malicious actors to introduce executable code into intelligent contracts. 

A U.S. official said that Libra stablecoin on Facebook must meet the highest standards of anti-money laundering (AML) and terrorist financing.

Global financial regulators continue to share their concerns about Libra, and key European Central Bank legal official Yves Mersch recently described the stable coin on Facebook as "seductive but treacherous".

The telegram is on track to launch its cryptographic currency Gram by October. If so, the Telegram would defeat the long-awaited stable Facebook coin Libra, which is to be integrated into its three entirely owned messaging services.