One of the Oldest Altcoins Hit by a Hacking Incident: Hackers Created Fake Transactions and Sent Them to Exchanges

Litecoin, one of the established projects in the cryptocurrency market, shared an important update regarding a critical security vulnerability discovered in its network. According to the statement, an unknown software bug, described as a “zero-day” error, caused a denial-of-service (DoS) attack on the network, affecting large mining pools.

The Litecoin team stated that outdated mining nodes accepted an invalid MWEB (MimbleWimble Extension Block) transaction due to this vulnerability. It was reported that this error allowed some coins to be transferred to third-party decentralized exchanges (DEX).

However, a swift response was implemented to secure the network. Litecoin developers announced that a 13-block “reorg” (chain reorganization) was applied to reverse these invalid transactions. This, they added, prevented the erroneous transactions from being included in the main chain.

The statement also noted that valid transactions carried out during this process were not affected, and only erroneous transactions were rolled back. The development team reported that the security vulnerability has been fully patched and the network is currently operating normally.

*This is not investment advice.