- TRON’s network suffers a malicious attack
- Network’s token losses 3% of the price
Justin Sun, CEO of TRON, has notified the general public that TRON’s network is back to normal after it suffered a malicious attack earlier in the day. He further advised that users should spend their money on the system.
Sun said the authority granted to one of the contracts developers prompted the malicious attack on the network. TRON’s super representative, which has the duty of confirming and validating transactions and bookkeeping, was forced to stop the production of new blocks.
The attack got noticed in the public domain when a user created a post on TRON’s network subreddit community, in which he mentioned that the network was down. Other users confirmed this on the platform.
The CEO made it known that attackers were trying to profit from the attack. The malicious attack lasted for over 2 hours.
The CEO also disclosed that no sensitive information was lost and that all users’ assets remain safe. The data on the chain have also been said to be intact.
The attack leads to a drop in TRON’s network price
The malicious attack had led to a drop in the price of TRON’s network. This is despite the assurances offered by the CEO.
Sun’s confirmation of the attack led to the drop in price, although he offered some level of reassurance to his investors. TRON’s token, TRX, dropped by close to 3%.
The foundation of the network has released no comment on the attack. The foundation retweeted Sun’s tweet and ignored other blog posts commenting on the attack.
TRON’s network is renowned for always being in the media’s eyes. The CEO of the blockchain project use of social media has generated controversies for the system. Sun, at one time, claimed that TRON’s network capabilities superseded that of Ethereum.