Attack 51: hackers broke into Vertcoin and stole 100 thousand dollars

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2018-12-06 14:15:09

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Attack 51: hackers broke into Vertcoin and stole 100 thousand dollars

Attackers have compromised replica that was created with the aim to prevent the miners form the pools and to create a monopoly in its network. Security expert mark Nesbitt said that the Vertcoin blockchain has been compromised 51 percent. Engineer Coinbase found that several anonymous cybercriminals rented a large volume Hasrat and got more than 50 percent Hasrat network. This allowed them to take over public bloccano Vertcoin.

Recall, the integrity of the cryptocurrency operating on the principle of the PoW is based on distributed nature of the network. They are considered decentralized, while none of the miner or mining pool didn't get more than 50 percent Hasrat network. If the mining entity obtains control over most of Hasrat, it allows him to create separate blocks of any arbitrary previous block. Thus obtained two versions of the same blockchain. And if the alternative blockchain is going to produce more units, it will lead to a reorganization of the chain.

Double spending. Source: legal-it.club

In addition, if the miner has a significant amount of coins, it can also carry out network attack double spending. For example, you can initiate the transaction in the main chain, and then duplicate the transaction in the alternative of counterfeit circuit. As a result, both transactions will receive the same coin, but the proof will only receive one of them, that will make the second transaction is invalid.

According to CCN, 4 recent cases, one of which continues to the present time, the coin 22 has experienced a profound reorganization of the network. 15 of them had recorded double spending of tokens.

According to our estimates, these attacks can lead to the theft of more than 100 thousand dollars. The largest reorganization of the network affected 300 units in depth.

the

Exchange may also be affected

Nesbitt warned of the exchange with PoW-Althingi of the potential loss due to lack of effective countermeasures. This is perhaps due to the fact that the exchange, as a rule, allow then to exchange altcoins to other assets or to withdraw them from the platform.

The Attacker can make a Deposit deferment at the time, exchange it for another asset, withdraw money from the platform, and then cancel the initial Deposit.

More data to search for .

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