How to break the blockchain and cryptocurrencies: 6 successful attacks "51 percent"
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One of the main threats to information security for cryptocurrencies created on the blockchain technology is the so-called attacks of 51%. They allow attackers to control the network and the transactions taking place in it. In 201? the victims of such an attack 3r3-15. steel 3r3127. six cryptocurrency projects. underwent attack in april 2018. This altcoin was launched based on the CryptoNight algorithm. After the attack, the developers managed to increase the security level of the project. 3r3124.
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Monacoin
3r3124.The cryptocurrency popular in Japan was 3–3–357. attacked
in May of this year. At the time of the attack, the project used the Lyra2Rev2 algorithm. The attackers managed to hack it, the damage from their actions was estimated at $ 9?000. 3r3124.
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Bitcoin Gold
3r3124.The Bitcoin Gold coin was attacked twice - for the first time on May 16 and then three days later. As a result, the damage from exceeded $ 18 million, and cryptocurrency exchanges began 3-3367. exclude
Bitcoin Gold from listing. 3r3124.
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Verge
3r3124.The crackers managed to use the Lyra2Re algorithm to attack the cryptocurrency network Verge. The result was 3r377.
stolen. about $ 1.4 million
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Litecoin Cash
3r3124.At the end of May under attack It turned out network coins Litecoin Cash. At the same time, developers managed to cope with it fairly quickly, which prevented large-scale losses. 3r3124.
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ZenCash
3r3124.In early June, another attack of 51 percent occurred - this time the ZenCash network was the victim. The attacker managed take control of the network for several hours. As a result, he managed to spend twice the cryptocurrency on $ 3?000. 3r3124.
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How to protect yourself
3r3124.The technology of distributed registries, a vivid example of which is the blockchain, is gradually being implemented in various sectors of the economy, including in government bodies. The growth of interest in the blockchain is also influenced by the myth of its security. It is believed that since it is built on the basis of complex cryptoalgorithms, then no additional security measures are required. 3r3124.
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Attacks like those described above show that security problems exist in the case of the blockchain. This means that everyone who decides to use this technology will need to think about ensuring information security. 3r3124.
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3r3115. On Thursday, [b] October 11 at 2:00 p.m. 3r3117. Ivan Melekhin, Deputy Director for Business Development in Russia, during a free webinar will talk about the security of the blockchain. At the webinar, the blockchain device, its components and their inherent risks and threats will be reviewed in detail. Ivan will also give examples of real incidents and vulnerabilities discovered during the security analysis conducted by the Positive Technologies research center. 3r3124.
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The webinar will be of interest to heads of IT and information security departments, who are considering the possibility of using the blockchain in their organization, project managers and professionals responsible for implementing the blockchain. 3r3124.
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To participate in the webinar you need register . 3r3128.
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Author10-10-2018, 16:22
Publication DateDevelopment / Information Security
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