Privateness-centric blockchain community Grin skilled a 51% assault, a sort of assault the place a single miner (or group of miners) acquires greater than 50% of the mining hash energy and takes over the community.
Mining Pool 2Miners first reported the incident.
Grin Community Beneath Assault
In response to 2Miners, an unknown mining entity acquired about 57% hashpower, which enabled the entity to execute assaults. Additional, 2Miners needed to cease its operations because it feared rejection of latest blocks.
In response to a Grin group member, the attacker was capable of reorganize new blocks. Customers can view one of many forked blocks by following this tackle. The attacker generated this block on Nov. 7 at 23:17 UTC.
“Shortly after, it seems the entity efficiently created giant reorgs in a possible try to double spend on an alternate. The success of the assault has not been decided,” the Grin group member wrote within the official chat room.
Crypto Briefing additionally discovered that the Grin group has notified all exchanges concerning the state of affairs and is working with them to forestall hackers from spending any forked cash.
51% assaults have plagued notable PoW blockchains previously as nicely. For example, an identical assault passed off in September in opposition to Ethereum Traditional.
It’s not very costly to launch 51% assaults in opposition to some PoW blockchains, significantly these with a small variety of miners or low hash energy.
In truth, the estimated price of lancing a 51% assault on Grin for an hour is simply $77 at present, as per Crypto51.