Privacy Coin GRIN Is Victim of 51% Attack

Privacy-centric blockchain network Grin (GRIN) is undergoing a 51% attack, an event in which a miner (or miners) acquires more than 50% of the network's mining hash power and takes control, according to a notice at the bottom of the Grin protocol's website.

According to 2miners.com, which is responsible for 19.1% of the current hash power on Grin, the unknown miner(s) grabbed control of 57.4% of the network's hash power.
While the attack is underway, the protocol is warning users to wait for extra confirmations on transactions for payment finality.
Grin, which was the first cryptocurrency to test privacy protocol MimbleWimble and drew an estimated $100 million in venture capital to mine it, was once called “Bitcoin 2.0.”
GRIN coins were down 2.23% to $0.235 at press time.

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Kevin Reynolds

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