Monacoin hacking information

Last week, Monacoin appears to have been altered on the blockchain due to a hack.

It seems to be an attack called a “Block withholding attack.”

Previously, hacking damages involved stealing wallet IDs and passwords outside the blockchain, but

this time it is a type of attack that involves altering the blockchain itself, which is a major difference.

It raised questions about the safety of the blockchain.

Although the total amount of damage is about 10 million yen, which is relatively small compared to past incidents, what was the cause of an attack on the blockchain?

Yesterday, I met with a cryptocurrency fixer (a senior at PandaMan) and talked, and he said he could only think that someone controlled more than 51% of the information.

Cryptocurrency has been marketed on the security of the blockchain, so it would be troubling if that were overturned.

The representative of BitFlyer has issued a statement saying, “This is not a serious issue.”

In the future, Monacoin I think will take countermeasures to prevent such problems, and I will watch the future developments.