![\"Grin](\"https:\/\/www.cryptocabaret.com\/wp-content\/uploads\/2020\/11\/grin-network-victim-of-51-attack-unknown-miner-commands-58-of-the-hashrate-768x432.jpg\")
<\/p>\n<\/p>\n
The privacy-centric cryptocurrency network Grin (GRIN) has been the victim of a 51% attack according to a number of reports. Allegedly an unknown entity gained control of over 57% of the network hashrate on Saturday. According to the Grin website, the team is recommending people wait for \u201cextra confirmations on transactions for payment finality.\u201d<\/strong><\/p>\n On November 7, 2020, a mining pool dedicated to the Grin (GRIN) network informed<\/a> the cryptocurrency community that the blockchain was under attack. \u201cGrin network is under [a] 51% attack,\u201d the mining pool called \u201c2miners\u201d tweeted. \u201cPayouts are stopped. Please mine at your own risk only because the new blocks could be rejected,\u201d the pool operator added.<\/p>\n According to the official website at grin.mw<\/a>, the development team has a warning at the bottom of the site that is still up on Monday, November 9.<\/p>\n \u201cImportant notice,\u201d the web portal\u2019s warning reads. \u201cThe Grin network hashrate has increased considerably over a short period of time. Notably, this coincides with the Nicehash rate doubling in this time with well over 50% of the network hashrate currently outside of known pools. Considering these circumstances it is wise to wait for extra confirmations on transactions for payment finality.\u201d<\/p>\n Grin Network Is Under the 51% Attack!<\/p>\n Payouts are stopped. Please mine at your own risk only because the new blocks could be rejected.@grincouncil<\/a> @grin_hub<\/a> @Hotbit_news<\/a> @Poloniex<\/a> @kucoincom<\/a> @gateio_info<\/a> @CoinBene<\/a> pic.twitter.com\/6seDSRe8Qw<\/a><\/p>\n \u2014 2Miners (@pool2miners) November 8, 2020<\/a><\/p>\n<\/blockquote>\n At the time of publication, an unknown miner controls 58.1%<\/a> of the Grin network\u2019s hashrate. Statistics also show that at approximately 6:17 p.m. (EST) the unknown entity reorganized a single block<\/a> at height 0000ada4. The mining pool 2miners who tweeted about the incident have around 24.5% of the global Grin hashrate today.<\/p>\n This is followed by Sparkpool, F2pool, Grinmint, and other small miners pointing hash at the network. If a mining entity controls more than 51% of a cryptocurrency network, the attacker can potentially reorganize blocks and invalidate transactions.<\/p>\n Ethereum Classic (ETC<\/a>) has been notorious for getting 51% attacked<\/a> on various occasions, alongside this the blockchain Bitcoin Gold (BTG) has also been 51% a few times<\/a>. Much of the blame on all of these attacks have been cast at the Nicehash firm, a cloud mining operation that allows users to rent hashrate.<\/p>\n Currently, the price of grin is trading for $0.233 per coin, and there\u2019s $3.4 million in global trade volume. The price of grin (GRIN) has lost 2.9% during the last 24 hours of trading. Most of the slide is due to the entire market downturn, as the 51% attack threat hasn\u2019t really affected the price much at all this past weekend.<\/p>\n What do you think about the Grin network getting 51% attacked and the unknown miner that controls 58% of the network today? Let us know what you think in the comments section below.<\/strong><\/em><\/p>\n The post Grin Network Victim of 51% Attack, Unknown Miner Commands 58% of the Hashrate<\/a> appeared first on Bitcoin News<\/a>.<\/p>\n\n