Waltonchain, an ambitious project aimed at achieving Value Internet of Things [VOIT], was under attack causing the network to be forked, according to an official announcement.
Waltonchain team has performed a Mainnet upgrade at block No. 175,366 on June 29, 2019.
We inform miners to download the updated source code and use the new full-node wallet to continue mining. https://t.co/tnzZBhHAOr#Waltonchain $WTC #blockchain pic.twitter.com/1cMdIEX4jj
— Waltonchain (@Waltonchain) June 29, 2019
The coordinated attack that took place on the mainnet allowed the attacker to increase his/her “coinage score and mine many blocks concurrently from blockheight 175,368”. The “KIRINMINER POOL” and the devs caught this early on, causing the breach to be fixed.
The team at Waltonchain stated that parts of the code that had vulnerability were rewritten and rolled out earlier on June 29, 2019 UTC 8+. The announcement further added:
“Waltonchain Mainnet has been upgraded at block No. 175,366. We hereby inform miners to download the updated source code and use the new full-node wallet to continue mining on the upgraded Waltonchain Mainnet. From block No. 175,366, miners will not be able to receive mining rewards without the new wallet software.”
The update also stated that the “Coinage exploit” has been fixed along with the PoS algorithm. The mining difficulty, after the hardfork, will decrease along with the increase of WTC balance in the mining address. In addition, the update has also canceled the WTC balance requirement for creating smart contracts.
Waltonchain sits on CoinMarketCap at 106 rank; it is priced at $1.51 and has a market cap of $63 million. Even after the attack, the price of Waltonchain was up by ~5%.