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Decentralized crypto exchange Bisq halts trading due to ‘critical security vulnerability’

Decentralized or non-custodial cryptocurrency exchange Bisq has halted trading until further notice due to a “critical security vulnerability.”

Announcing the news on Tuesday, Bisq said it has used the alert key to "temporarily disable trading."

"Bisq is a proper distributed peer-to-peer network. So you can override the latest alert key functionality that blocks trading. But we highly discourage you from doing this for your own security," said the exchange.

Bisq is expected to release an update of its application “within a few hours.” In the meantime, the exchange has advised users not to send any funds to a counter-party if they active trades.

“Until v1.3.0 is released, existing trades cannot be completed. Please hold tight. Of course, because of Bisq’s security model, your funds are not at risk,” said the exchange.

Bisq is an open-source, peer-to-peer application that allows users to buy and sell cryptocurrencies in exchange for national currencies.

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