2Miners: 51% of Grin’s anonymous encryption network was attacked

09.11.2020
Based on the data of the 2Miners mining group, more than half of the hash of the anonymous Grin encryption network is controlled by an unknown group of miners, which conducts the attack 51%.

On social network Twitter representatives of 2Miners stated that 57.4% of Grin hashreet is controlled by unknown group of miners. The 2Miners pool accounts for 19.1% of the network hashreet, while the SparkPool — for 18.9%;

The data of the GrinScan block browser say that on November 7, 51% of the Grin network was attacked, after which the blockchain was reorganized. 2Miners warns users:

«Payouts stopped. Get the cryptographic currency at your own discretion, because there is a great risk that the blocks you get will be rejected»;

However, it is not always the pool that controls more than 51% of the network hash rate that uses this feature. For example, the SparkPool has previously produced more than 60% of the Grin hashreet, but this hasn’t led to network disruptions.

Interestingly, the cost of an attack on Grin is very low — controlling 51% of the network hash rate is only $75 per hour. At the moment the Grin rate hasn’t changed much — in the last 24 hours the coin has lost only 1.4% of its value;

Let us remind you that in August 2020 the Ethereum Classic network completed three attacks 51% at once.