It seems that PIVX, a popular private transactions crypto, may be vulnerable to attacks together with 200 other chains. According to a recent report made by Lunar Digital Assets, there is a vulnerability of the system that can be currently exploited. Every chain using PIVX or its variants is possible to be attacked this way.
Basically, the attacker could exploit this specific vulnerability in order to get impossibly high staking rewards using the proof of stake system of the network.
This is not the first that this vulnerability is exploited. As soon as the PIVX devs found out about it, they rushed to fix the issue. However, another developer, BitGreen, has noticed that the problem was being exploited once more. Someone has probably figured how to undo the progress made by the team and started to use the exploit.
As soon as the developers discovered it, they notified all related companies of the bug and now PIVX is working once more to solve it and stop the attacks.
People Are Accusing the PIVX Team
The situation got heated recently after some people started to claim that the PIVX team might be behind the attacks. According to critics, the team knew of the bug and did nothing about it or failed to fix it properly.
Some others criticized the team for not having a timely response for the problem and simply standing still while the problem was still out there. This led some critics to theorize whether people from the company were exploiting the bug for money and used this inside source in a malicious way.
At the moment, the PIVX team has not explained publicly why the problem was not fixed months ago.
Author: Bitcoin Exchange Guide News Team
- ZCash and Parity Technologies work together to provide improved security to users
- The goal is to offer better services to users
The ZCash Foundation has partnered with Parity Technologies in order to release a new open source client for the ZEC cryptocurrency. This is according to a press release unveiled on June 17. ZCash (ZEC) is one of the largest cryptocurrencies in the market offering privacy features.
ZCash Foundation And Parity Technologies Work Together
The new software client is called Zebra and it has been released to provide redundancy in the case of its client failing. In this way, the network is expected to work in a much more secure way and users would be more protected than before.
There are going to be other improvements to ZCash with this partnership. For example, the network would be able to detect implementation-specific bugs and also avert problems related to the consensus mechanism that the network has.
Parity Technologies has been working on other crypto clients in the past. For example, they have developed Parity Ethereum.
About the new partnership to improve ZCash, the CTO of Parity, Fredrik Harryson, commented:
“The community wins across the board … Zcash can now boost a more diversified community that can effectively tailor experiences for Layer 2 developers as well as end-users.”
At the time of writing this article, ZEC is the 23rd largest crypto in the market with a price per coin of $100. ZEC’s market capitalization reached $677 in the last few hours.
[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.
Author: Carl T