Discounts Archives -
It’s Prime time at Whole Foods: Amazon is rolling out discounts for Prime members at the organic grocer. The benefits start Wednesday at stores in Florida and will expand nationwide this summer, the AP reports. Prime members will get an additional 10% off sale items and exclusive deals on certain…
Hoping to reverse last year’s drop in attendance, the Los Angeles County Fair is giving visitors a break on ticket and food prices.
The fair announced it won’t raise daily ticket prices when it opens at the Fairplex in Pomona in August. In addition, the fair’s vendors will offer discount prices…
This week security experts found a website glitch on the e-commerce marketplace Overstock that let customers purchase items for a fraction of the price. The reason users were getting such huge discounts is because the system was accidentally allowing bitcoin cash (BCH) purchases in place of items priced in bitcoin core (BTC).
‘Big Discounts’: Some Overstock Customers Pay for Items Priced in BTC With BCH
According to the company Krebs on Security and the security firm Bancsec, Overstock’s marketplace had a serious glitch allowing people to pay for products priced in BTC in BCH. On January 5 a Krebs researcher chose to purchase three outdoor solar lamps from Overstock which added up to $ 78.27. At the time Overstock’s invoices told the researcher to pay 0.00475574 bitcoins to a specific address. Instead of paying BTC, Krebs on Security decided to send 0.00475574 BCH to the specified address. In a matter of minutes, the researcher purchased the three lamps for roughly $ 12 worth of bitcoin cash.
If things couldn’t get any worse, they did: Krebs decided to get a refund for the three solar lamps purchased with BCH.
“I didn’t really want the solar lights, but also I had no interest in ripping off Overstock,” explains the Krebs employee.
So I canceled the order — To my surprise, the system refunded my purchase in bitcoin, not bitcoin cash.
Payment Glitch Lasted for Three Weeks
Krebs contacted Overstock and informed the firm that individuals were allowed to purchase lavish items like diamond rings for very little money compared to the real retail price. Overstock says they disabled the payment method glitch immediately after an independent researcher investigated the problem.
“After working with a researcher to confirm the findings, that method of payment was disabled while we worked with our cryptocurrency integration partner, Coinbase, to ensure they resolved the issue,” explains Overstock to Krebs. “We have since confirmed that the issue described in the finding has been resolved, and the cryptocurrency payment option has been re-enabled.”
Coinbase revealed to Krebs that the bug existed for “three weeks” and the issue was caused by the merchant partner “improperly using the return values” in the company’s merchant integration API.
What do you think about Overstock accidentally letting people buy items priced in BTC but used BCH instead? Let us know what you think of this story in the comments below.
Images via Shutterstock, Overstock, and the bitcoin cash logo.
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Surveys suggest that more than half of holiday shopping takes place online, and that figure grows every year. But as blissful as online shopping is, the internet is a sterile environment. Unlike your local shopping mall, you can’t land an online discount by asking for a deal or “knowing a guy.”
Packaged-food companies have been struggling with declining sales as shoppers shift from older brands to options perceived as healthier. Now retailers are adding to the companies’ woes.
WSJ.com: US Business
In a bid to promote its deals to consumers, Amazon.com Inc. started displaying current discounts compared to their historic price tags — a strategy that it calls the “was” price.
The “was” price was introduced as the e-commerce giant faced legal challenges and mounting criticism for allegedly exaggerating…
Shoppers who got addicted to buying merchandise at a discount during the last recession have more tools than ever to cross-check prices and find bargains, creating a race to the bottom — particularly on clothes.
Although retailers are trying to offer more exclusive products and improve the experience…
Consumer Watchdog is urging the California Department of Insurance to deny auto insurance rate proposals from insurers Geico and Progressive that the consumer group says will dole out unfair discounts based on occupation.
The organization says discounts given to so-called affinity groups give preference to…
Apple Loop: Apple Kills iPhone Successor, MacBook Pro Decimates Competition, Secret iPhone DiscountsNovember 12, 2016 | dailybusinessnews
This week’s Apple Loop includes the death of a beloved iPhone range, the MacBook Pro’s successful start, Apple’s secret discount on the iPhone, how the iPhone 7 compares to the older iPhones, the importance of Apple Music, and a new version of Snakes and Ladders for Cupertino.
Forbes Real Time
Even though the outlook is excellent for another record year in U.S. auto sales in 2016, analysts are nervously wondering how much longer the good times can last. “We’re now entering our seventh year (of sales increases), and that should warrant some concern,” said John Humphrey, senior vice president, for the […]
Forbes Real Time