The proof-of-work (PoW) cryptocurrency Firo announced that its protocol came under a 51% attack, notifying its holders to stop transactions. Formerly known as Zcoin, the privacy coin was reportedly subject of a blockchain reorganization attack.
Firo Team Clarified the Attack Cannot Be Attributed to a ‘Coding Error’
According to a series of tweets published by Firo, the attacker breached the protocol on January 19, and they are working to restore operations. However, the Firo team clarified that the 51% mining attack is not the result of “a coding error but [the] nature of PoW.”
One of the first reports about the attack came from the Binance CEO, Changpeng Zhao, who said:
XZC (FIRO) 51% attack, 306 blocks rolled back, to 2021-01-18 17:24:20(UTC). Another messy situation.
At the time of making the attack public, Firo posted a tweet that said:
We are working with exchanges and pools currently. Chainlocks that would have prevented this were being tested on testnet and was weeks away from…