The proof-of-work (PoW) cryptocurrency Firo introduced that its protocol got here underneath 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’t Be Attributed to a ‘Coding Error’
In line with a collection of tweets published by Firo, the attacker breached the protocol on January 19, and they’re working to revive operations. Nonetheless, the Firo staff clarified that the 51% mining assault shouldn’t be the results of “a coding error however [the] nature of PoW.”
One of many first experiences 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 creating the assault public, Firo posted a tweet that stated:
We’re working with exchanges and swimming pools at present. Chainlocks that might have prevented this have been being examined on testnet and was weeks away from deployment.
The Firo staff’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 staff stated the assault has stopped.
In line with markets.Bitcoin.com information, Zcoin (XZC) is quoting at $4.2568, down -16.51% on January 21. Nonetheless, it stays constructive 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 staff 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 extra character in code allowed an attacker to create Zerocoin spend transactions with out a corresponding mint.
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