Recent Claims Of Monero Privacy And Network Security Concerns Leads To Poor XMR Performance
Fungibility and privacy-focused, Monero [XMR] has been recently attacked on numerous counts for lacking privacy and possibly carrying security flaws within its respective network. HackerOne was the first ever to disclose this matter, in which a developer, shared the following:
“By mining a specially crafted block, that still passes daemon verification, an attacker can create a miner transaction that appears to the wallet to include sum of the XMR picked by the attacker.”
The end result of this concern? Turns out it can lead to exploitation, in which money can be directly stolen from cryptocurrency exchanges. This was initially found by the developer, who needed to investigate block verification within daemon and to understand the code behind the respective wallet.
According to the claims made, said flaw implies attackers can, “convince any client wallet that it received a transaction with an amount chosen by the attacker, that is virtually any.”
News outlet, AMB Crypto also reported on this matter and have since published that five DoS attacks were also found, one being of potential danger. Moreover, an investigation of the token value was also provided, in which it was found that XMR lost over 32 percent in value, as the token dropped from $120 to under $82.
At the time AMB Crypto reported on XMR’s change in value, there was supposedly a correction that helped to bring the price up to around $92.85, and presently, it is sitting at $98.94.