Cryptocurrency Attacks: types of vulnerabilities, risks and results
Cryptocurrency attacks and security vulnerabilities
51% attack, Sybil attack, Double-Spend attack. DDoS attacks and their repercussions. Potential flaws of cryptocurrencies.
There were 51% attacks on two large cryptocurrency networks, ZenCash and Bitcoin Gold, in Summer 2018. The total cost covered $550,000 and $18 million respectively. A month before, hackers held the same attack on Verge startup, which lost about a quarter of its funds. Analysis of potential attack risks suggests that, in theory, BTC may also be attacked, so that the network could be controlled by malicious miners. It means that cryptocurrency cannot yet become real payment systems. You will learn from this article about the types of attacks and their outcomes.
Read more in LiteForex blog
Cryptocurrency attacks and security vulnerabilities
51% attack, Sybil attack, Double-Spend attack. DDoS attacks and their repercussions. Potential flaws of cryptocurrencies.
There were 51% attacks on two large cryptocurrency networks, ZenCash and Bitcoin Gold, in Summer 2018. The total cost covered $550,000 and $18 million respectively. A month before, hackers held the same attack on Verge startup, which lost about a quarter of its funds. Analysis of potential attack risks suggests that, in theory, BTC may also be attacked, so that the network could be controlled by malicious miners. It means that cryptocurrency cannot yet become real payment systems. You will learn from this article about the types of attacks and their outcomes.
Read more in LiteForex blog