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

▲ Litecoin (LTC)

Litecoin (LTC) has made an unprecedented decision in the network's history. It deleted 3 hours worth of transaction records to address a critical security vulnerability that occurred in its privacy layer. This is the result of a chain reorganization that broke the core blockchain value of immutability by reverting past records.

The virtual asset specialized media The Block reported on 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 decided to halt block generation and delete records as a strong measure to prevent further damage.

MWEB is a core technology introduced to enhance transaction anonymity. This incident has damaged the trustworthiness of Litecoin's much-touted 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 an emergency patch that fixes the security hole to the network.

The decentralized community is fiercely criticizing this action. The act of modifying blockchain records by the decision of a specific group clearly demonstrates centralized power. Critics point out that the network's integrity has been self-compromised. 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.

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