Cypto at a galnce Hackers Inflict Heavy Loss To Zencash, Ticketfly

Crypto at a glance Hackers Inflict Heavy Loss To Zencash, Ticketfly

Crypto at a glance Hackers Inflict Heavy Loss To Zencash, Ticketfly

Crypto at a glance Hackers Inflict Heavy Loss To Zencash, Ticketfly

Hackers Inflict Heavy Loss Hackers inflicted heavy monetary and data loss by targeting event-ticketing platform Ticketfly and the ZenCash cryptocurrency network, creating losses worth $550,000 in two double-spend transactions following a 51 percent attack on the network. Police in the Indian city of Thane, near Mumbai, have busted a multi-million cryptocurrency scam this week that involved the promoters of Money Trade Coin Ltd.

 

The attacker(s) caused the reorganizations of the blockchain between blocks 318165 and 318275. They performed the double-spend attacks in blocks 318204 and 318234 – for 13,000 and 6,600 ZEN, respectively, worth more than $550,000 at current prices.

According to the forensic analysis conducted with the affected exchange, the suspect pool address is znkMXdwwxvPp9jNoSjukAbBHjCShQ8ZaLib and the suspect exchange deposit address is zneDDN3aNebJUnAJ9DoQFys7ZuCKBNRQ115.

At the time of the attack the network’s hashrate was 58MSol/s. Developers believe that the attacker has a private mining operation large enough to conduct the attack and/or supplement with rental hash power. Zencash is a proof of work coin based on the equihash algorithm.

 

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