The Truth About 51% Attacks; The ETC Story

2019-1-12 15:54

Because of recent events, the community is abuzz with the effects and after effects of 51% attacks. For those of us who are uninformed, the Ethereum Classic coin, recently, faced a 51% attack that was pointed out by Coinbase.

A lot of people believe that a 51% attack is a game-over scenario for cryptocurrencies. However,

The post The Truth About 51% Attacks; The ETC Story appeared first on ItsBlockchain.

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Источник: itsblockchain.com

attacks attack → Результатов: 76

Litecoin Address Analysis Discovers A Sprinkling of “Dusting Attacks” on LTC Network

There are many different ways for hackers to attack the cryptocurrency sector, but dusting attacks are perhaps the most seemingly harmless. This type of attack sends a small number of coins to a few known addresses, which wouldn’t move the market by much.

2019-12-16 16:33	Litecoin (LTC)
attacks attack dusting market sends much type

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Here’s Why 51% Attacks Don’t Affect Price

51% attacks are catastrophic in the cryptocurrency world–or are they? 51% attacks may be a little bit scary but here’s why they don’t affect price. The Ethereum Classic 51% Attack Ethereum Classic, one of the most popular altcoins by market cap, just succumbed to a 51% attack.

2019-1-11 04:00	Ethereum Classic
attacks price don affect classic ethereum attack

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Litecoin (LTC) Creator, Charlie Lee: If A Crypto Cannot be 51% Attacked, it is Not Decentralized

Right after news broke that the Ethereum Classic (ETC) cryptocurrency had been the victim of a 51% attack, one twitter user by the name of Crypto Tesla noted that a cryptocurrency has to be open for such attacks if it were to remain decentralized.

2019-1-9 17:11	XRP
crypto decentralized ethereum cryptocurrency one litecoin cannot

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Ethereum Classic (ETC) 51% attack proof that shitcoins have no hope of succeeding?

On January 7th, the story broke about Ethereum Classic, the less popular result of the much-publicized post-DAO-hack Ethereum hard fork, suffering a 51% attack. After more than 200 thousand ETC ended up being stolen through double spending attacks and transaction reversal, ETC development team reacted and promised to look into a solution to what appears […] The post Ethereum Classic (ETC) 51% attack proof that shitcoins have no hope of succeeding? appeared first on CaptainAltcoin.

2019-1-9 12:57	Crypto Journal
ethereum etc attack classic succeeding hope proof

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Gate.io Exchange Claims it Lost $200,000 of Ethereum Classic (ETC) After 51% Attack

The cryptocurrency exchange Gate. io explained that it lost $200,000 in Ethereum Classic (ETC) coins after the 51% attack that the network is currently experiencing. It seems that the exchange lost 40,000 ETC since the network experienced double spend attacks.

2019-1-9 23:19	News
exchange etc lost gate attack network classic

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Exchange Says $200K in Ethereum Classic Lost As Blockchain Attacks Continue

Cryptocurrency exchange Gate.io has corroborated claims that the ethereum classic network is under a 51 percent attack, disclosing a loss of 40,000 ETC.

2019-1-9 20:51
classic exchange ethereum under percent network disclosing

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Ethereum Classic hackers steal over $1.1M with 51% attacks

Ethereum Classic, one of the most popular forks of the second most valuable cryptocurrencies by marketcap has suffered a 51-percent attack. After Chinese blockchain security firm SlowMist raised the alarm, an analyst at CoinNess dug a little deeper.

2019-1-8 13:34	hard fork
most pool mining ethereum analyst around classic

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Ten Years Later, a Reflection on Bitcoin’s Genesis and Satoshi’s Timing

October 31, 2008, and January 3, 2009. The two dates have cemented themselves with Promethean significance into Bitcoin’s lore. On the October 31, Satoshi Nakamoto published the Bitcoin white paper, a constitution of sorts for his revolutionary monetary system and its intrinsic currency.

2019-1-3 07:14	Op-ed
block bitcoin satoshi genesis banks network crisis

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Hacker Group Requests Bitcoin Payment for Classified and Secret Documents from 9/11

The hacker group called The Dark Overlord is threatening to release secret files related to 9/11 attacks. A few days ago, The Dark Overlord wrote on Twitter that they were able to have access to hundreds of classified documents related to the World Trade Center attack back in 2001. For future reference and pending any […]

2019-1-3 22:36	News
documents dark related secret hacker overlord group

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Hackers Threaten to Dump 9/11 Related Insurance Files If Ransom Not Paid In Bitcoin

A hacker group called The Dark Overlord threatened to release insurance files related to the 9/11 attacks on New Year’s Eve. The group noted that they had received the files after breaching the security of a law firm handling cases related to the Twin Tower terrorist attack.

2019-1-2 15:29	security
related bitcoin ransom insurance hackers group dump

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Electrum Wallet Phishing Attack Nets Hackers $900K in Bitcoin

Hackers managed to steal close to $900,000 worth of Bitcoin from Electrum wallet users via a phishing attack. While the attacks seem to have come to a halt, Electrum Devs say the hackers can launch new exploits since the issue hasn’t been permanently fixed.

2018-12-28 15:00
electrum attack hackers wallet phishing bitcoin nets

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Op Ed: Bitcoin Is a Declaration of Our Monetary Independence

Nick Spanos is an early adopter and innovator in the blockchain space. He is best known for launching Bitcoin Center NYC, the world’s first live cryptocurrency exchange, in 2013, right next to the New York Stock Exchange — as immortalized in the Netflix documentary “Banking on Bitcoin.

2018-12-15 21:43	Adoption & community
bitcoin many day blockchain had all these

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Vertcoin (VTC)’s 51% Mining Attack Matters Says MIT Digital Currency Initiative Advisor

A few days ago, the virtual currency Vertcoin (VTC) experienced a 51% attack in which a miner (or a group of miners) controlled more than half of the network hash power. This allowed attackers to conduct multiple attacks and double spend some funds.

2018-12-11 03:35	News
currency vertcoin vtc attack virtual attacks multiple

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Explained: 51 Percent Attacks on Bitcoin and Other Cryptocurrencies

One of the worst things to happen to a proof-of-work cryptocurrency is a 51 percent attack. Such attacks undermine the immutability—and consequently the trust—in a blockchain. Satoshi Nakamoto summarized proof-of-work as “one-CPU-one-vote.

2018-12-10 13:20	Mining
bitcoin attacks percent mining explained cryptocurrency proof-of-work

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Vericoin Fell Victim to 51% Attack

Vericoin (VTC) has been experiencing a series or reorganization attacks since mid-November.

2018-12-4 20:53	News
vericoin series reorganization attacks mid-november experiencing victim

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415,000 routers worldwide hijacked to secretly mine cryptocurrency

Researchers have discovered over 415,000 routers across the globe have been infected with malware designed to steal their computing power and secretly mine cryptocurrency. The attack, which is still ongoing, affects MikroTik routers in particular.

2018-12-4 20:38	hard fork
devices routers infected affected 415 discovered cryptocurrency

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Vertcoin 51% Attack Could Have Caused $100K in Double Spending

Vertcoin has been experiencing ongoing 51% attacks, reportedly resulting in $100K of double spending on the network. Rough Couple of Months for Vertcoin In a detailed blog post, Coinbase security engineer Mark Nesbitt revealed that Vertcoin’s network went through repeated 51% attacks, with the largest reorganization having a length of 310 blocks and a depth of 307 blocks which, according to the specialist, may have caused double spends upwards of $100,000.

2018-12-4 13:00
vertcoin double spending 100k caused blocks attacks

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ChainLocks: Dash Upgrade To Eliminate 51 Percent Attacks

Payments network Dash (DASH) may soon implement a new, unique network upgrade that will reportedly “eliminate” the threat of a 51% attack from the protocol, once fully implemented ChainLocks enables transactions to be confirmed and secured as soon as the block has been processed, rather than waiting for six other blocks to be signed first.

2018-12-3 00:06	Mining
dash chainlocks eliminate upgrade soon network attacks

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Bitcoin Ransomware: The U.S. Indicts Iranians Over $6 Million Cryptocurrency Cyber-crimes

The U. S. Justice Department recently announced the indictment of two Iranians involved in a high-profile Bitcoin ransomware attack. Iranian Hackers Collect Bitcoin as Ransom According to a report by The Washington Post, the Justice Department of the United States on Wednesday (November 28) announced the indictment of two Iranian nationals involved in cryptocurrency ransomware attacks, […] The post Bitcoin Ransomware: The U.

2018-11-29 12:16	United States
ransomware bitcoin cryptocurrency iranians involved indictment iranian

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One Day After the Bitcoin Cash Hard Fork: Takeaways and Latest Developments

Bitcoin Cash, the “big block” project that forked away from the Bitcoin blockchain in August 2017, “hard forked” (split) into two different coins: “Bitcoin Cash ABC” (BCH ABC) and “Bitcoin Cash SV” (BCH SV).

2018-11-17 02:13	Digital assets
bitcoin cash abc bch chain checkpoint hash

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McAfee Labs Report: Crypto-Jacking Malware Mining Several Coins on Host System Detected

A report submitted by McAfee researchers on November 12, 2018, claims that a new crypto mining malware capable of mining different cryptocurrencies depending on the host’s system is on the loose. Russian Malware Attacks Global Networks Crypto-jacking malware and its attack vectors are becoming more efficient by the day.

2018-11-16 20:00	XMR
malware mining mcafee russian different cryptocurrencies new

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Report: Cryptocurrency Mining Attacks Likely to Surge in the Future

Kaspersky Lab’s cyber threat and research arm Securelist published a report on November 13, 2018, which provides details on the rising trend of cyber attacks on cryptocurrency exchanges in Q3 2018. The report also mentions prominent cyber attack groups including Lazarus as well as observing massive growth in crypto mining attacks.

2018-11-15 10:00	security
cyber attacks cryptocurrency report 2018 trend crypto

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Op Ed: Anatomy of the Tether Attack: Are Stablecoins Vulnerable?

“Go for the Jugular” is the advice George Soros gave to his team during his famous attack on the British pound for a profit of $1 billion on so-called Black Wednesday in 1992.

2018-11-15 18:50	Op-ed
attack tether stablecoin stablecoins market price attacks

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Is Delayed Proof of Work the Answer to 51% Attacks? [INTERVIEW]

Earlier in October, an ethical hacker who goes by the handle GeoCold on Twitter announced the live-streaming of a 51% attack on the alt coin Einsteinium. The plan was to gain control of the network and expose vulnerabilities that exist in conventional proof-of-work blockchains which allow for double-spending attacks.

2018-10-23 13:00
attacks delayed answer interview work proof allow

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6 reasons why municipalities are getting hammered by cyberattacks

More and more municipalities are becoming victims of hacks. For example in the US, the first half of 2018 has seen many major (or not so major) cities being attacked by bad actors using a variety of methods.

2018-10-22 17:16	Contributors
major phishing municipalities cities one surprisingly key

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NYU Students Complaining About Nouriel’s Attack on Crypto Says Alum

Economist Nouriel Roubini made headlines throughout the past two weeks for his condemnation of the cryptomarket and mischaracterization of high profile developers, entrepreneurs, and builders in the space.

2018-10-19 19:00	Nouriel Roubini
nouriel nyu bollinger alum says attack complaining

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Critical East Coast Water Utility Company Crippled by Sophisticated Ransomware Attack

Criminals have shown a tendency to deploy major attacks during troublesome times. Hurricane Florence wreaked havoc in the US not that long ago. It now appears one local water utility company is being targeted in a major ransomware attack.

2018-10-18 03:48
ransomware company attack utility east water attacks

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After Suffering a 51% Attack, Horizen Has a Solution

Horizen (formerly ZenCash) has proposed a new way to head off 51% attacks in cryptocurrencies. While it isn’t a cure-all, it might be a solution some currencies may want to adopt. It could especially help those without large amounts of hashing power.

2018-10-15 11:09
horizen solution proposal attack suffering power titled

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Einsteinium Staves off Impending 51% Attack by Renting Extra Hashrate

It is always troublesome when cryptocurrencies deal with a looming network attack. Small-cap coins are often targeted in 51% attacks, and Einsteinium could have easily been next. After all, this attack was announced a few days ago, which seemingly gave the EMC2 team plenty of time to prepare.

2018-10-15 18:00
attack einsteinium emc2 hashrate extra off staves

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2020 Presidential Candidate Elizabeth Warren Attacks Bitcoin, Urges Investors to Stay Away

Elizabeth Warren Decides To Attack Cryptocurrency And Urge Consumers Not To Invest Elizabeth Warren, one of the potential 2020 Democratic presidential contenders, is harboring some bad feelings about cryptocurrency.

2018-10-12 19:06	News
warren elizabeth she 2020 cryptocurrency presidential swipes

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Pigeoncoin Hacked for $15,000: May be a Warning Sign for Other Bitcoin Forks

A minor altcoin called Pigeoncoin has suffered a small-scale attack resulting in the theft of 235 million PGN tokens, worth approximately $15,000. Some have mocked the attacker’s modest gains, with ZDNet wryly headlining the story “Hacker wastes entire day only to make $15,000.

2018-10-9 01:36	Cryptocurrency News
pigeoncoin forks bitcoin attack warning may hacked

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Research: China has the power to destroy Bitcoin

A damning new study has suggested China holds threatening influence over Bitcoin – and perhaps even the ability to attack and ultimately destroy the entire Bitcoin network. Academics from Princeton and Florida International Universities have explored how China “threatens the security, stability, and viability of Bitcoin” with its “political and economic control over domestic [cryptocurrency] activity […] [and] internet infrastructure.

2018-10-8 19:07	hard fork
bitcoin china even economic power destroy worse

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Reddit User Will Livestream 51% Attack Against Einsteinium on Twitch

In the world of cryptocurrencies, there is a major threat known as the 51% attack. Numerous currencies have suffered from such attacks, and the year 2018 has been no different in this regard. It now seems one particular user is intent on attacking Einsteinium next week.

2018-10-8 12:44	Twitch
twitch einsteinium attack user reddit livestream against

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McAfee Report: Cryptocurrency Mining Malware to only Grow in Magnitude

The crypto community is well aware of cryptojacking – a crypto-malware attack that uses the hosts’ computer power to mine cryptocurrencies without their knowledge. In what comes as unfortunate news for the budding community, the problem is only going to get worse.

2018-9-27 23:00	XMR
community mcafee only report malware per dated

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Study Reveals Growing Sophistication in Malicious Mining of Cryptocurrency

Several Chinese researchers from Fudan University, Tsinghua University and the University of California Riverside have produced the first systematic study of the malicious mining of cryptocurrencies, known as cryptojacking, unveiling increasing complexity over time.

2018-9-25 23:59	#scams
cryptojacking mining cryptocurrency malicious coinhive websites study

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eCash Founder David Chaum Makes Bold Promises with Elixxir Blockchain

Over 30 years after creating eCash, a predecessor of bitcoin and other cryptocurrencies which spawned the Cypherpunk movement of the 1980s, Dr. David Chaum is back in the public eye with a claim of having invented “the world’s fastest cryptocurrency.

2018-9-22 23:59	blockchain
elixxir chaum blockchain blockchains public claims transactions

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The Good, the Bad and the Ugly Details of One of Bitcoin’s Nastiest Bugs Yet

For well over a year, versions of Bitcoin Core — Bitcoin’s leading software implementation — contained a severe software bug. The bug was fixed with Bitcoin Core 0.

2018-9-22 21:22	Technical
bitcoin bug core attack block nodes chain

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Massive Bitcoin Vulnerability Discovered That Could Have Seen The End Of BTC

Developers from the Bitcoin Core project seem to have discovered a vulnerability that could have seen the end of Bitcoin. To put a long story short, the entire Bitcoin blockchain was at risk of being pulled down by one single DDos attack.

2018-9-21 06:00
bitcoin seen could vulnerability discovered ddos massive

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$60 Mln Crypto Exchange Hack in Japan had no Impact on Bitcoin Price

Another hacking attack has hit a known crypto exchange in Japan, and this time, thieves managed to steal around $60 million in crypto. Another Crypto Exchange Hack The popularity of attacks on crypto exchanges seemingly continues to grow, with another such exchange being hit just recently, in Japan.

2018-9-21 15:00	trading
crypto exchange japan another hack such price

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Newdex Decentralized Crypto Exchange Robbed in New Hacking Attack

After discovering a new security vulnerability, hackers managed to flood a crypto exchange with fake EOS tokens. By the end of their operation, they ended up stealing as much as $58,000 from the exchange’s users directly.

2018-9-19 17:00
exchange hacking new crypto decentralized attack newdex

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Crypto Wallet Protection App Wants to Secure Your Wallets Against Malware

Malware, a persistent thorn in the side of the internet’s wider community, has become an increasing concern for cryptocurrency users. A problem that comes in many forms, malicious software is leveraged by hackers to rob community members of their funds.

2018-9-18 23:37	Bitcoin
browser app mobile waller malware secure cryptodefender

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Top 6 51% Attacks Affecting Cryptocurrencies in 2018

The cryptocurrency industry is under threat from a lot of different angles. One of the biggest potential problems is to so-called 51% attack, which can disrupt networks in very quick succession. The year 2018 has been quite successful in this regard, as no less than seven 51% attacks have been performed successfully.

2018-9-16 18:00	Cryptocurrency
2018 attacks affecting cryptocurrencies less regard successful

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Five Most Common Cyber Attack Methods Crypto Investors Should Know About

In the last years, we have seen how different attackers targeted crypto exchanges, users and investors. Just in 2017, cyber attacks caused $275 million dollars in damages to businesses according to Equifax.

2018-9-13 18:14	Cryptocurrency
crypto investors cyber hackers steal possible equifax

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‘Real Risk’: Blockstream Exec Warns Over Bitcoin Cash 51 Percent Attack

Bitcoin Cash (BCH) average hashrate over the past week has fallen below 8 percent of Bitcoin’s (BTC), while Blockstream compares the altcoin to a five-year-old Litecoin hard fork. Feathercoin? Is That You? In comments on Twitter today, Blockstream VP solutions lead Warren Togami sounded the alarm over BCH — warning its low average hashrate placed investors at risk of double spend attacks from malicious parties.

2018-9-4 16:00
bitcoin risk blockstream percent cash real exec

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New Payfone Patent To Prevent SIM Swap and Porting Attacks

Payfone has been awarded a patent for SIM swap and porting attack prevention technology, which is already being used by organizations to reduce or eliminate fraud. The technology will also help cryptocurrency companies provide more levels of protection to their client’s accounts.

2018-8-29 13:50	security
swap sim attacks porting payfone patent technology

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Vitalik Buterin’s 99% Fault Tolerant Consensus Makes 51% Attacks Unattainable Via Honest Nodes

Vitalik Proposes New Consensus Algorithm That Makes a 51% Attack Impossible Vitalik Buterin, Ethereum’s co-founder, has released a very complex paper in which he proposes a new consensus algorithm that eliminates the risk of a 51% attack.

2018-8-13 19:37	News
algorithm consensus vitalik new nodes honest attack

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Japan’s FSA Set to Introduce New Cryptocurrency Regulations After Speculative Trading Runs Rampant

Per a report published on August 8, 2018, the Japanese Financial Services Agency (FSA), which is also Japan’s premier financial regulatory body, is planning to update its existing regulatory framework for bitcoins and other cryptocurrencies.

2018-8-10 20:30	Japan
cryptocurrency japan rampant fsa 2018 financial regulatory

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Cryptocurrency Malware Infects Over 200,000 Mikrotik Routers

A cryptojacking campaign has affected over 200,000 routers made by Mikrotik, the Latvian networking company. A Months-Old Vulnerability Exploited Security researchers recently mapped a series of cryptomining attacks, which initially attacked a large number of users in Brazil to create a growing mining botnet by infecting compromised devices with malware.

2018-8-7 07:00	Mining
mikrotik routers 200 malware company cryptocurrency devices

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The Anatomy of a Successful BItcoin Ransomware Attack and How to Prevent Becoming a Victim

In early 2016, reports of a particularly crippling ransomware attack began to surface. While many of the victims were based in the U. S. , the attacks were also witnessed in other parts of the world.

2018-8-6 03:00	security
ransomware attack becoming prevent victim successful bitcoin

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