Crypto PIVX Denies Vulnerability Allegations, Says Customers’ Funds Are Protected


Builders of the non-public transactions cryptocurrency PIVX replied to crypto consulting agency Lunar Digital Belongings relating to claims its blockchain was weak to a bug. 

In a reply revealed on Aug. 13, PIVX builders addressed claims made by Lunar Digital Belongings CEO Han Yoon. They argued that there was no resurgence of assaults on its proof-of-stake (PoS) algorithm, and that neither PIVX nor its customers’ funds are in danger.

In accordance with the put up, PIVX fastened its “faux stake” exploit in February, and its community stability and chain belief usually are not at the moment compromised. 

Nevertheless, the put up did observe that there’s something odd occurring with the PIVX community with respect to low stake values. The assertion defined that uncommon conduct happens within the case low stake values obtain extra rewards, however that it’s not impacting coin or reward emissions.

The builders additionally derided Yoon for leaping to conclusions, saying that “the writer of the article […] was knowledgeable of the investigation by PIVX, however selected to leap to false conclusions as a substitute of ready for the right response.”

Lunar Digital Belongings’ allegations

As beforehand reported by Cointelegraph, Han Yoon instructed on Aug. 12 {that a} staking vulnerability was exploited on PIVX and its forks. He famous that this bug was purportedly fastened by PIVX again in January however believed it’s getting used once more. This prior exploit made it in order that attackers might obtain “mathematically inconceivable” staking rewards through PoS chains.

Yoon additionally claimed that PIVX was conscious of the exploit however was masking up the problem. Nevertheless, Yoon mentioned he wasn’t utterly positive that PIVX was leaning on the exploit for their very own acquire, including:

“I can’t conclusively say with proof that PIVX builders have been utilizing their information of the bug for their very own advantages — not to mention use it to use different chains. […] The ‘faux stake’ exploit clearly has not been fastened for PIVX, so the query is, was it ever fastened? Or have the attackers developed a brand new methodology in finishing up comparable assaults corresponding to this one?”

Not too long ago Cointelegraph additionally reported {that a} dusting assault occurred towards Litecoin (LTC) on a significant cryptocurrency alternate Binance.

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