VerifiedX releases Mainnet 9.0.0 with recovery vaults to recall transfers
VerifiedX rolled out its Mainnet 9.0.0 upgrade featuring self-custodial recovery vaults that let users recall unfinalized vBTC transfers before settlement, enforcing transfer delays through network consensus.
VerifiedX announced Thursday that its Mainnet 9.0.0 upgrade introduces an updated version of its recovery Vaults, allowing holders of its Bitcoin-pegged vBTC token to cancel mistaken or unauthorized transfers before settlement. Under the system, token owners specify a delay window during which pending transactions can be recalled and redirected to a pre-designated recovery address. VerifiedX stated that these protections are enforced on-chain via network consensus rules rather than through a central custodian, and the mechanism extends to its VFX token and other assets minted on the network.[1][2]
The upgrade also embeds Bitcoin light-client verification directly into VerifiedX validator software. According to the company, validators verify Bitcoin block headers, proof of work, and chain progression independently, acting on Bitcoin-related activity only after a burial depth of six confirmations. The company noted that this allows balances and UTXOs to be determined directly from the Bitcoin network without relying on third parties, oracles, or off-chain attestations.[1][2][3]
The rollout comes in the wake of the Oct. 29 Binance exploit, which blockchain analytics firm TRM Labs reported drained approximately $6.4 billion across ten chains, including over 18,000 unfreezable Bitcoin. VerifiedX head of strategy Jay Pollak argued in the release that the industry's traditional assumption—that security ends once an entity obtains transfer authority—is unacceptable for financial systems securing trillions of dollars, pointing to Vault cooling-off windows and scheduled time-locked settlements as solutions.[1][2]
Key facts
- VerifiedX launched its layer 1 network's Mainnet 9.0.0 upgrade with updated self-custodial recovery Vaults.
- Vaults allow users to set a delay window before transfers settle, enabling the recall of unauthorized or mistaken vBTC transfers to an owner-designated address.
- Transfer recall protections are enforced by VerifiedX network consensus rules without a custodian and extend to VFX and other network-minted assets.
- VerifiedX validators run Bitcoin light clients to independently confirm block headers, proof of work, and transactions with a six-confirmation burial depth, without using oracles.
- The release referenced an exploit draining more than 18,000 Bitcoin that could not be frozen, following an Oct. 29 Binance hack that TRM Labs said totaled $6.4 billion and involved North Korea's TraderTraitor group.
Sources · 3 sources
- WB
Wu Blockchain@WuBlockchainPost on X ·
VerifiedX Ships Vault Update Aimed at Stopping Hacked vBTC Transfers VerifiedX today released upgraded self-custodial recovery Vaults as part of its Mainnet 9.0.0 upgrade. Bitcoin holders using vBTC can set a delay before transfers from their vault become final, allowing them to recall mistaken or unauthorized transfers during that window and recover assets to an owner-designated self-custodial address. These protections are enforced on-chain by VerifiedX network consensus, without requiring a separate custodian. The upgrade also embeds Bitcoin light-client verification into VerifiedX’s validator software, enabling validators to independently verify Bitcoin block headers, proof of work and chain progression with 6 confirmation burial depth.
Open source - UN
UnchainedArticle ·
VerifiedX Ships Vault Update Aimed at Stopping Hacked vBTC Transfers VerifiedX said Thursday that a new version of its recovery Vaults is out with the layer 1 network’s Mainnet 9.0.0 upgrade. According to a VerifiedX press release, a Vault lets holders of vBTC , a Bitcoin-pegged token the company calls self-custodial and redeemable for bitcoin at any time, pull back a transfer sent by mistake or by a thief before it settles. The announcement comes a week after the Oct. 29 Binance hack , which drained roughly $6.4 billion across ten blockchains, according to blockchain analytics firm TRM Labs . Tether, Circle and others froze about $2.7 billion of it, TRM said, tying the theft to North Korea’s TraderTraitor group. VerifiedX’s release does not name Binance but it cites last week’s record hack and the more than 18,000 Bitcoin stolen in it that could not be frozen. Zero Knowledge Group founder Austin Campbell , commenting on the Binance hack, said on Unchained’s Bits + Bips in an episode recorded Nov. 2 that crypto lacks protocols that say “if you’re gonna move a billion dollars, there’s a 24-hour, like, clock on that thing,” adding in the same episode, “You don’t just get to yeet that thing out the door.” Get Unchained’s crypto news in your inbox with the free Unchained Daily newsletter . What a Vault Does Think of it as a cooling-off window. The owner decides how long a transfer sits before it becomes final. During that time it can be called back, with the assets sent to a recovery address the owner sets. VerifiedX says consensus rules, not a custodian, enforce this, and that the same protection extends to VFX and other assets minted on the network. Vaults also support transfers time-locked to settle at a set date. “Digital assets have operated under the assumption that if someone successfully obtains the authority to move an asset, the security battle is essentially over,” said Jay Pollak , head of strategy at VerifiedX, in the release. “We don’t think that is an acceptable end state for a financial system responsible for protecting potentially trillions of dollars of value.” Validators Watch Bitcoin Directly VerifiedX says that on mainnet, it won’t act on anything tied to Bitcoin until the underlying Bitcoin transaction has six confirmations, and VerifiedX validators each check that for themselves: they run a Bitcoin light client and confirm the block headers, the proof of work and that the transaction is actually in a block. VerifiedX says in the release that the result is that balances and UTXOs “come directly from the Bitcoin network, with no oracle, third party or off-chain attestation.” Related Listen: Binance Lost $6.3 Billion in 20 Minutes. Can Crypto Stop the Next One? The post VerifiedX Ships Vault Update Aimed at Stopping Hacked vBTC Transfers appeared first on Unchained .
Open source - LS
Laura Shin@laurashinPost on X ·
VerifiedX says its Mainnet 9.0.0 upgrade has each validator check Bitcoin’s chain itself, with no oracle, alongside an updated version of its Vaults for vBTC holders. https://t.co/E0cb5vwRkW
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