{"id":158715,"date":"2021-01-20T13:22:10","date_gmt":"2021-01-20T10:22:10","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/privacy-focused-firo-cryptocurrency-suffers-51-attack\/"},"modified":"2021-01-20T13:22:10","modified_gmt":"2021-01-20T10:22:10","slug":"privacy-focused-firo-cryptocurrency-suffers-51-attack","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/privacy-focused-firo-cryptocurrency-suffers-51-attack\/","title":{"rendered":"# Privacy-focused Firo cryptocurrency suffers 51% attack"},"content":{"rendered":"<p>&#8220;<strong># Privacy-focused Firo cryptocurrency suffers 51% attack <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDEvN2IzY2U3NmMtNzFhOC00MjkzLWEzOTMtM2YxYjQ5OWU3ZTQyLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a136f3a>Anonymous cryptocurrency Firo \u2014 formerly known as Zcoin\u2014 is the latest Proof-of-Work coin to suffer a 51% attack.<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/firoorg\/status\/1351703001849757697\">Tweeting<\/a> on Wednesday, Firo revealed that the protocol had come under a 51% attack and advised holders to pause all transactions until the network returns to a normal state. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">We are under 51% attack at the moment. We recommend not to make transactions during this time until the network returns to a normal state. We will post updates when we have them. Note this is not a coding error but a nature of PoW. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24XZC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$XZC<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24FIRO&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$FIRO<\/a><\/p>\n<p>\u2014 Firo (formerly Zcoin) (@firoorg) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/firoorg\/status\/1351703001849757697?ref_src=twsrc%5Etfw\">January 20, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>The attack reportedly came to light when users reported that previously confirmed transactions had become unconfirmed. This was <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>arently the result of a blockchain reorganization attack initiated by the attacker.<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/cz_binance\/status\/1351700768701648932\">According<\/a> to Binance CEO Changpeng Zhao, the blockchain reorg resulted in a rollback of 306 blocks. Details of the attack shared by team members on the project\u2019s Telegram group <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.me\/firoproject\/397137\">showed<\/a> the attacked \u201corphaned\u201d confirmed transactions from the previous day.<\/p>\n<p>At publishing time, the Firo team says the attack has stopped. Commenting on the economic cost of the attack, Firo project steward Reuben Yap told Cointelegraph:<\/p>\n<blockquote><p>\u201cExchanges are the ones at a loss as the attacker had deposited funds which have now been reversed because of the 51% attack. We are still working with exchanges to resolve the matter. From what we know at the moment both Binance and Indodax were affected.\u201d<\/p><\/blockquote>\n<p>Firo stated that the attack was not due to a coding error. \u201cWe frequently assess to see what kind of hash rate is easily rentable on MTP and it never approached something that would have been able to pull off an attack on this scale,\u201d Yap said.<\/p>\n<p>For the Firo team, the attack was only possible because the project was yet to deploy Chainlocks on the mainnet. A Chainlock is a secondary validation layer that reportedly mitigates a 51% attack.<\/p>\n<p>According to Yap, with Chainlocks activated, an attacker would need to control at least half of all Firo master nodes in addition to the usual 51% mining hash rate dominance. <\/p>\n<p>Firo has reportedly completed the testing protocols for Chainlocks and is primed for its full deployment in the next few weeks. When integrated, Chainlocks will be the latest protocol feature added to the project after <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/firo.org\/2021\/01\/15\/lelantus-activated-mainnet.html\">activating<\/a> the Lelantus upgrade.<\/p>\n<p>The timing of the attack was suspicious, according to Yap, who said that Firo is investigating possible motives. \u201cTo pull a double spend of this magnitude, the attacker had also acquired significant amounts of Firo legitimately,\u201d he said, adding:<\/p>\n<blockquote><p>\u201cThe timing of the attack is also weird given that MTP has been live on our chain for a long time and several months have passed since first halving. To attack us when we are so close to deploying chain locks seems strange.\u201d<\/p><\/blockquote>\n<p>On the price side, Firo (FIRO) is <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coingecko.com\/en\/coins\/firo\">down<\/a> almost 12% in the last 24 hours. This decline has interrupted a positive 14-day trading period for FIRO but the privacy coin is still up over 73% since the start of 2021.<\/p>\n<p>Proof-of-Work blockchains with significantly lower hash rates have fallen victim to 51% attacks on several occasions. Back in 2020, Ethereum Classic suffered multiple 51% attacks with one such incident leading to the loss of about $5.6 million worth of ETC. Grin, another privacy-focused crypto also suffered a 51% attack in 2020. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/privacy-focused-firo-cryptocurrency-suffers-51-attack\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Privacy-focused Firo cryptocurrency suffers 51% attack &#8221; Anonymous cryptocurrency Firo \u2014 formerly known as Zcoin\u2014 is the latest Proof-of-Work coin to suffer a 51% attack. Tweeting on Wednesday, Firo revealed that the protocol had come under a 51% attack and advised holders to pause all transactions until the network returns to a normal state&#8230;.<\/p>\n","protected":false},"author":1,"featured_media":158716,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDEvN2IzY2U3NmMtNzFhOC00MjkzLWEzOTMtM2YxYjQ5OWU3ZTQyLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[15047,75042,117],"class_list":["post-158715","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-privacy","tag-mining","tag-business"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/158715","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=158715"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/158715\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/158716"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=158715"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=158715"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=158715"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}