• Latest
‘Strange’ Litecoin Network Activity Could Be Related To August Dust Attack

‘Strange’ Litecoin Network Activity Could Be Related To August Dust Attack

Dezember 15, 2019
6 Questions for Rene Reinsberg of Celo – Cointelegraph Magazine

6 Questions for Rene Reinsberg of Celo – Cointelegraph Magazine

März 31, 2023
Judge denies SEC motion to keep Hinman docs secret in Ripple case

Judge denies SEC motion to keep Hinman docs secret in Ripple case

März 31, 2023
The ultimate guide to Miami – Cointelegraph Magazine

The ultimate guide to Miami – Cointelegraph Magazine

März 31, 2023
Dr. Jane Thomason – Cointelegraph Magazine

Dr. Jane Thomason – Cointelegraph Magazine

März 31, 2023
1658007797 celsius is bankrupt with 12b balance sheet hole su zhu.jpg

Celsius is bankrupt with $1.2B balance sheet hole, Su Zhu returns to Twitter and OpenSea purges 20% of employees: Hodler’s Digest, July 10-16

März 31, 2023
6 Questions for Lisa Fridman of Quadrata – Cointelegraph Magazine

6 Questions for Lisa Fridman of Quadrata – Cointelegraph Magazine

März 31, 2023
Jed McCaleb empties XRP wallet after eight-year selloff

Jed McCaleb empties XRP wallet after eight-year selloff

März 31, 2023
Celsius has finally filed for bankruptcy: Law Decoded, July 18-25

Celsius has finally filed for bankruptcy: Law Decoded, July 18-25

März 31, 2023
The ‘godfather of crypto’ risked lifetime in jail, laying foundation for Bitcoin – Cointelegraph Magazine

The ‘godfather of crypto’ risked lifetime in jail, laying foundation for Bitcoin – Cointelegraph Magazine

März 31, 2023
SEC objects to XRP holders aiding Ripple defense

SEC objects to XRP holders aiding Ripple defense

März 31, 2023
Blockchain technology is transforming the real estate market – Cointelegraph Magazine

Blockchain technology is transforming the real estate market – Cointelegraph Magazine

März 31, 2023
1658612147 nfts banned in minecraft sec lists 9 tokens as securities.jpg

NFTs banned in Minecraft, SEC lists 9 tokens as securities and 3AC founder blames cockyness for company meltdown: Hodler’s Digest, July 17-23

März 31, 2023
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
CoinNewsDaily
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
CoinNewsDaily
No Result
View All Result
Home Litecoin

‘Strange’ Litecoin Network Activity Could Be Related To August Dust Attack

coinnewsdaily by coinnewsdaily
Dezember 15, 2019
in Litecoin
0
‘Strange’ Litecoin Network Activity Could Be Related To August Dust Attack
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Product developer Franklyn Richards has witnessed Litecoin (LTC) network activity that reminds him of the Aug. 10 dust attack on Litecoin.

In a Dec. 14 blog post, Franklyn Richards, a product developer who has worked on Bitcoin (BTC) and Litecoin since 2013, describes a pattern emerging among active Litecoin network addresses.

Related articles

Litecoin confidential transactions spook Korean exchanges

Litecoin confidential transactions spook Korean exchanges

Mai 23, 2022
Do Kwon faces legal trouble in South Korea, China remains Bitcoin mining powerhouse, and Ethereum 2.0 eyes ‘huge testing milestone’: Hodler’s Digest, May 15-21

Do Kwon faces legal trouble in South Korea, China remains Bitcoin mining powerhouse, and Ethereum 2.0 eyes ‘huge testing milestone’: Hodler’s Digest, May 15-21

Mai 22, 2022

According to the product developer an unknown entity is taking “large periodic automated actions” on the Litecoin network, resulting in “an almost sawtooth like pattern.” He explains:

“On average the network typically sees around 40,000 active addresses per day, however, according to data from bitinfocharts, every 7 days this value is spiking to over 70,000 before abruptly dropping back down. This has resulted in an almost sawtooth like pattern that’s pretty evident given a cursory glance.”

Related to dust attack on Litecoin in August?

Richards speculates that the current “strange” network behavior, which reportedly started on Aug. 20, appears to be related to the Aug. 10 dust attack that was announced through the official Binance Twitter account at the time.

On Aug. 10, the Litecoin community was up in arms as Binance announced news of a potential dusting attack. The firm explained that around 50 Binance Litecoin addresses received a fractional amount (0.00000546) of Litecoin, which the exchange’s security team identified as a part of large-scale dusting attack.

A dusting attack occurs when hackers send a tiny fraction of a cryptocurrency to a large group of addresses. These small fractions are referred to as dust, as they can be as small as 1 Satoshi, which most users don’t even notice or may think of as harmless. Since the balances are so small, they cannot be spent without being included in a transaction along with the victim’s other funds, which allows the hacker to trace and de-anonymize the victim behind the wallet.

However, Richards concludes his blog by pointing out that without proper “access to more data tools for the Litecoin network, it’s hard to properly analyse the actions behind the behaviour.”

Litecoin celebrated its eighth birthday

Litecoin celebrated its eight birthday on Oct. 13, an event highlighted by its founder Charlie Lee, who famously sold and donated all his LTC holdings back in Dec. 2017. He said at the time:

“Litecoin network has been up and running continuously for the past 8 years with zero downtime. And in that span of time, over $500,000,000,000 worth of LTC have been transacted. Looking forward to the next 8 years and more!”



Credit: Source link

Share76Tweet47
Previous Post

Dissidents and Activists Have a lot to Gain From Bitcoin, if Only They Knew It

Next Post

Bitmain Rival MicroBT’s Founder Arrested in China for Alleged Embezzlement

coinnewsdaily

coinnewsdaily

CoinNewsDaily.com is an online Crypto Coin News Website that aims to provide latest trendy news from market and around the world.

Related Posts

Litecoin confidential transactions spook Korean exchanges
Litecoin

Litecoin confidential transactions spook Korean exchanges

Mai 23, 2022
Do Kwon faces legal trouble in South Korea, China remains Bitcoin mining powerhouse, and Ethereum 2.0 eyes ‘huge testing milestone’: Hodler’s Digest, May 15-21
Litecoin

Do Kwon faces legal trouble in South Korea, China remains Bitcoin mining powerhouse, and Ethereum 2.0 eyes ‘huge testing milestone’: Hodler’s Digest, May 15-21

Mai 22, 2022
Terra ecosystem collapses, Sam Bankman-Fried buys Robinhood stock and crypto trader receives jail sentence for Ponzi scheme: Hodler’s Digest, May 8-14
Litecoin

Terra ecosystem collapses, Sam Bankman-Fried buys Robinhood stock and crypto trader receives jail sentence for Ponzi scheme: Hodler’s Digest, May 8-14

Mai 19, 2022
meta to launch metaverse hardware store, elon musk buys twitter for $44b and apecoin pumps to new highs: hodler’s digest, april 24 30
Litecoin

Meta to launch metaverse hardware store, Elon Musk buys Twitter for $44B and ApeCoin pumps to new highs: Hodler’s Digest, April 24-30

Mai 5, 2022
Bitcoin Will Overtake Gold’s MarketCap in 9 years, Says Bobby Lee |
Bitcoin

Sell or hodl? How to prepare for the end of the bull run, Part 2

April 10, 2022
How to prepare for the end of the bull run, Part 1: Timing
Bitcoin

How to prepare for the end of the bull run, Part 1: Timing

April 3, 2022
Load More
Next Post
MicroBT Expects $400 Million Q3 Revenue From Bitcoin Miner Sales Despite Chip Holdup

Bitmain Rival MicroBT's Founder Arrested in China for Alleged Embezzlement

Kategorien

  • Alt Coin
  • Bitcoin
  • Business
  • Ethereum
  • ICO
  • Litecoin
  • Mining
  • NFT
  • Ripple
  • Tech
  • Trading

What New here?

  • 6 Questions for Rene Reinsberg of Celo – Cointelegraph Magazine
  • Judge denies SEC motion to keep Hinman docs secret in Ripple case
  • The ultimate guide to Miami – Cointelegraph Magazine
  • About Us
  • Contact Us
  • Privacy & Policy

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

Please enter CoinMarketCap Free Api Key to get this plugin works.
✕
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev