On ZenCash carried out a successful attack 51% . Losses totaled more than 500 thousand U.S. dollars

On ZenCash carried out a successful attack 51% . Losses totaled more than 500 thousand U.S. dollars

ZenCash is a cryptocurrency based on Proof of Work that works on the popular algorithm Equihash.

Equihash is used by several other popular currencies, primarily zcash for, which means that the overall hash rate Equihash that can be used in different networks is large enough. ZEN is a fork of ZClassic, which was launched at the end of may 2017, and which in turn is based on the zcash for.

June 2 in the network ZenCash there was a successful attack 51%, when one party controlled 51% of the hash rate of the network. This allowed the attacker several times to rewrite the blockchain, the greatest change amounted to 38 units. According to the team, the attacker was also able to re-make two large transactions at 13.000 6.600 and ZEN, the total of which amounted to more than 550,000 USD. The operators of mining pools informed the team ZenCash about the attack, and exchangers, in turn, has increased the number of confirmations required for the transaction.

Read also – How real attack 51% on Litecoin?

The attacker was able to cancel the transaction, but the fate of the original transaction is still unclear. If they had gone to the exchange and was there exchanged for some other currencies, in fact the striker is a regular bandit. All the attackers managed to write 110 blocks, and the duration of the attack was a little less than 4 hours. According to 51Crypto, these attacks cost the attackers at $ 30,000.

This is the fourth major attack 51%, which occurred over the past few months. Earlier the attack Bitcoin and Gold Verge.

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