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Privacy Coin Firo Currently Experiencing 51% Attack

privacy-coin-firo-currently-experiencing-51%-attack

Users should not make transactions during this time.

Privacy Coin Firo Currently Experiencing 51% Attack

Firo (formerly known as Zcoin) has announced that it is currently experiencing a 51% attack

  • In a tweet, the Firo account said that it would recommend that users not make transactions during this time, and that it was working with exchanges and pools.
  • The account also tweeted that “chainlocks that would have prevented this were being tested on testnet and was weeks away from deployment.”
  • Chainlocks are a secondary validation layer that make 51% attacks much more difficult.
  • A 51% attack occurs when a miner (or miners) acquires more than 50% of the network’s mining hash power and takes control of the network.
  • The price of the privacy coin has dropped around 17% in the last 24 hours.
  • Firo recently launched the new privacy protocol Lelantus on its mainnet.

https://www.coindesk.com/privacy-coin-firo-currently-experiencing-51-attack

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