Chainalysis CEO Denies 'Sybil Attack' on Bitcoin's Network
Additional comment added from Chainalysis CEO Michael Grønager. Compliance startup Chainalysis was forced to defend itself today after allegations its surveillance tactics had disrupted services and threatened the privacy of bitcoin users. The Swiss company, headed by ex-Kraken COO Michael Grønager and former Mycelium engineer Jan Møller, created over 250 'false' bitcoin nodes to harvest information on the whereabouts of transactions. The firm claims these nodes have now been shut down. Three Bitcoin Core developers, Wladimir van der Laan, Peter Todd and Gregory Maxwell, say Chainalysis'....
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Chainalysis, the new company on the block featured earlier on our site is back in news, but this time for a wrong reason. The company has been forced to defend itself after allegations of Chainalysis launching a Sybil attack on bitcoin network surfaced. Chainalysis' claims to provide financial institutions with the means to access real time transaction information from the blockchain. Their API allows users (their clients) to identify the origin of transactions for regulatory compliance. Nodegate. Chainalysis allegedly created 250 false nodes to obtain information about the origin of....
Proof of Individuality protocol is designed to prevent Sybil attacks on peer-to-peer network based computer reputation systems. The virtual world is full of threats; Sybil attacks make a sizeable chunk of it. Especially with the increasing implementation and usage of peer-to-peer networks, the network infrastructure lies more exposed to such attacks than ever. Cryptocurrencies also use a form of peer-to-peer network, which naturally puts them on the list as well. The magnitude of threat is now being countered by the development and implementation of anti-Sybil protocols. Proof of....
A group of researchers has proposed a new way to more closely monitor the behavior of nodes that relay information on a blockchain network. Published by academics at Zhejian University, the National University of Singapore and Tianji University, the paper, the authors believe, could one day help ease cybersecurity issues around the tech. Within the context of bitcoin, nodes store the network’s transaction history, maintaining and sharing information about the blockchain with connected peers. Yet any peer-to-peer system faces unique kinds of cybersecurity concerns, including Sybil attacks,....
A paper released yesterday by researchers Ittay Eyal and Emin Gun Sirer at Cornell University suggested a subtle new way in which the bitcoin mining network could be vulnerable to a form of economic attack called 'Selfish Mining'. Gavin Andresen, the lead developer of Bitcoin, was quick to dismiss the paper and its contents. Executive summary of Cornell paper: not a big deal even assuming their analysis is correct (I'm not yet convinced). - Gavin Andresen (@gavinandresen) November 5, 2013. Although a similar attack called the 'Mining Cartel Attack' was proposed as early as 2010, the new....
On August 11, the blockchain intelligence firm Chainalysis published its findings on the recent Poly Network hack which saw the loss of approximately $611 million crypto tokens. The assessment from Chainalysis backed up the claims made by the security company called Slowmist that shows the hacker left a fingerprint on the relatively unknown exchange Hoo.com. As of August 11, at 4:18:39 p.m. (UTC), Poly Network details that the hacker has returned $260 million in assets so far. Chainalysis Observes Hackers Onchain Fingerprints The crypto community has been infatuated with the recent....