Test Attack on Krypton, Ethereum Classic Might be Next
Krypton, Ethereum-based network, has recently recovered from a 2-step attack which resulted in a total of 21,465 KR, approximately $3000 USD, being stolen from Bittrex’s wallets. The Krypton team suspects that the attack might have been just a test: attackers might go for other Ethereum-based blockchains such as ETC, for example. How the attack happened. According to a press release by Stephanie Kent, Krypton’s Founder, and Rocky, cryptocurrency trader, investor and analyst, attackers used Double-Spending to steal the KR from Bittrex. After the attack, all deposits and withdrawals on both....
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Smart contracts platform Krypton is recovering from a 51 percent attack this week that saw 21,465 of its tokens exchanged for bitcoin and double-spent. According to the fledgling project’s founder and project manager Stephanie Kent, the attack was a “two-pronged” effort involving rented hashing power and a DDoS attack on existing nodes to multiply the hashing advantage even further. The attacker sent more than 21 thousand Krypton (KR) tokens to the Bittrex crypto exchange, sold them for bitcoin, then used the majority hashing power to roll back the transactions. Financial Return of Krypton....
Krypton, an Ethereum-based blockchain, has announced that in order to protect its token coin KR from being stolen from exchanges through a double spend it has decided on a temporary course of action. In an announcement today, founder of Krypton Stephanie Kent said: Krypton is moving KR from an Ethereum-based proof-of-work blockchain to a Bitcoin-based proof-of-stake blockchain. The 51% Crew. Last month, the Krypton blockchain was attacked twice by an anonymous group known as the 51 crew. They were able to utilize a deadly blockchain exploit that was a two-step attack. The first step was....
Ethereum Classic is all set to get a hard fork of its own soon to counter the sustained DOS attack. Ethereum Classic is on its way to get a hard fork in the next two days. Ethereum recently split into two blockchains following a hard fork introduced by the Ethereum development team a few months ago. The hard fork resulted in two versions — Ethereum (ETH) and Ethereum Classic (ETC). While Ethereum continued to operate on the new fork, a portion of the cryptocurrency community decided to continue with the original Ethereum blockchain, calling it Ethereum Classic. Ethereum recently came under....
According to various reports, a malicious group of hackers called the “51 Crew” is hijacking blockchain clones by taking a majority of their hashrates and double spending their tokens. Two cryptocurrency projects, Krypton and Shift, are among the first projects to be hit. The 51 Crew Wants to Damage Smaller ETH Clones. The 51 Crew managed to attack the....
While some miners are attacking Ethereum Classic, the spin-off blockchain based on the consensus and protocols of the original Ethereum blockchain continues to gain support. After miner Chandler Guo announced he and other miners plan to attack Ethereum Classic Tuesday, Bill Shihara, CEO of Bittrex, a cryptocurrency exchange, contacted CCN express his skepticism about the miners’ attacks. Guo said he, assisted by other miners, will 51% attack Ethereum Classic as soon as possible. Guo said that they would isolate any block so that transactions cannot be confirmed, which was necessary because....