Grin network suffers from 51% attack

On the 7th November, an unknown entity gained control of over 57% of the network.

The Grin network was under attack. Payouts had been stopped and miners were advised to mine at their own risk due to new blocks possibly being rejected.

The network's hashrate had increased considerably over a short period, which coincides with the Nicehash rate doubling within the same time, with over 50% of the network hashrate being outside of known pools. Users were advised to wait for extra confirmations on transactions for payment finality.

The unknown hacker had reoragnised a single block at height 000ada4

As a result of the attack, the price of GRIN fell by 2.9%.