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The proof-of-work (PoW) cryptocurrency Firo introduced that its protocol got here beneath a 51% assault, notifying its holders to cease transactions. Previously generally known as Zcoin, the privateness coin was reportedly topic of a blockchain reorganization assault.
Firo Workforce Clarified the Assault Can not Be Attributed to a ‘Coding Error’
In response to a collection of tweets published by Firo, the attacker breached the protocol on January 19, and they’re working to revive operations. Nevertheless, the Firo crew clarified that the 51% mining assault is just not the results of “a coding error however [the] nature of PoW.”
One of many first reviews in regards to the assault got here from the Binance CEO, Changpeng Zhao, who said:
XZC (FIRO) 51% assault, 306 blocks rolled again, to 2021-01-18 17:24:20(UTC). One other messy state of affairs.
On the time of constructing the assault public, Firo posted a tweet that mentioned:
We’re working with exchanges and swimming pools at present. Chainlocks that will have prevented this had been being examined on testnet and was weeks away from deployment.
The Firo crew’s Telegram group has been posting some updates in regards to the incident. A few of the posts revealed that the attacker “orphaned” confirmed transactions from January 18.
As a safety measure to cope with the incident, Firo released a hotfix pockets on January 21, asking folks to improve their wallets and masternodes. As of press time, the crew mentioned the assault has stopped.
In response to markets.Bitcoin.com information, Zcoin (XZC) is quoting at $4.2568, down -16.51% on January 21. Nevertheless, it stays optimistic on a yearly foundation.
Current Incidents Associated to Proof-of-Work Cryptos
The latest assault on a proof-of-work cryptocurrency dates again to November 2020. Grin, one other privateness coin that suffered a 51% assault on its blockchain community. The Grin crew constructed its token on the Mimblewimble protocol.
On February 17, 2020, Zcoin (now Firo) reported {that a} typo had let an attacker money a revenue of round $400,000 at the moment. They defined how the incident occurred:
A typographical error on a single further character in code allowed an attacker to create Zerocoin spend transactions and not using a corresponding mint.
What do you consider Zcoin’s 51% mining assault? Tell us within the feedback part beneath.
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