🛡 EXPLOIT: Litecoin Hit by Rare 51% Attack, Double-Spend Drains Millions

Litecoin suffered a 51% attack allowing attackers to double-spend the same coins. They swapped LTC for other assets, then rewrote blockchain history to reclaim the original LTC, keeping both. Total losses have reached 8 figures. Litecoin Cash, a fork of Litecoin, suffered a similar attack in the past, but this marks the first time it has hit Litecoin's mainnet directly.

EXPLANATION:
A 51% attack happens when a single entity controls more than half of a blockchain's mining power. With majority control, they can secretly mine an alternate version of the blockchain and replace the legitimate chain, effectively erasing transactions that already happened. In this case, attackers made swaps to receive assets, then used their hashrate dominance to reorg the chain and erase the outgoing LTC transactions, ending up with both the LTC and whatever they received in the swap.

Is Litecoin's proof-of-work security still worth trusting? 👇

🔔 @Observer • 💬 Join community • 🌟 HighQuality OTC