When it comes to the different altcoins on the market, some projects tend to fare a lot better than others. This weekend, it seems the Waltonchain mainnet has come under a massive attack, Someone exploited a known bug and took advantage of it before the developers would introduce a network fix. Unfortunately, this may have been the straw that broke the camel’s back.
The Waltonchain Incident
As was officially communicated on Telegram, it seems the Waltonchain main net is currently under attack by an unknown individual. Rather than just a 51% attack, it seems this individual as successfully pulled off a 99.9% attack. Most people assumed this would be impossible to achieve, but things are a bit different where this project is concerned. That is not necessarily a good trait either, by the look of things.
There are some interesting aspects regarding this project to take into account. It appears the launch of WTC’s main net has become a big hurdle, thus it is relatively easy to pull off such a massive attack. Most users are not even active on the network, as the swap from ERC20 tokens to mainnet tokens has not been completed as of yet.
The Developers Knew About the Exploit
One particular aspect regarding this incident is how the Waltonchain developers apparently knew about the security problem. While that is a good thing in terms of fixing the issue, one also has to wonder why this loophole was still accessible today. Apparently, a fix for the problem was under development, but it was unclear if and when that would be released.
It does appear this proposed network fix will be introduced at some point, albeit an official ETA has not been provided just yet. Read More at NullTX...