"To prevent hacking"...Litecoin deletes 3 hours of transaction history

▲ Litecoin (LTC)

Litecoin (LTC) has made an unprecedented decision in the network's history. To resolve a critical security vulnerability that occurred in the privacy layer, it deleted 3 hours of transaction records. This is the result of a chain reorganization that broke the core blockchain value of immutability and reverted past records.

The Block, a specialized virtual asset media outlet, reported the related news on April 26 (local time). Litecoin's core development team initiated an emergency response when the first major security incident occurred in MWEB. Evidence was found that hackers attempted to steal funds by exploiting the vulnerability. The foundation stopped block generation and took the strong measure of deleting records to prevent further damage.

MWEB is a core technology introduced to enhance transaction anonymity. This incident has damaged the trustworthiness of Litecoin's much-lauded privacy feature. While the specific hacking method has not been disclosed, the possibility of a design flaw in the layer itself is being raised. The development team is distributing emergency patches that fix the security holes to the network.

The decentralized community is strongly criticizing this action. The act of modifying blockchain records by a specific group's decision clearly demonstrates centralized power. Critics point out that the network has undermined its own integrity. The price of LTC fluctuated, plummeting below the $75 mark due to the commotion.

Currently, the Litecoin network has resumed block generation after applying the patch. Major exchanges temporarily suspended deposit and withdrawal services to check for additional damage. The development team is putting all its efforts into system stabilization and security enhancement. The Litecoin Foundation plans to release an official technical analysis report on this incident soon.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*