Monero price set all time record

Let's try to figure out what stands behind Monero's new price high
22 November 2017   1044

On Wednesday, November 22, Montero's crypto currency reached a new historic record, confidently breaking the $ 155 mark. Earlier, developers of the popular hardware wallet Ledger confirmed the rapid integration of Monero, Qtum and Stellar into the Nano S and Blue models.

After two months of relative calm, Monero set a new price record, breaking the $ 155 mark. Since September 18, the cryptocurrency has not been able to trade in the $ 80- $ 100 corridor, but since November 8 it began to show stable growth, which ultimately led to the renewal of the historical maximum.

At the moment of prese, these are main XMR market parameters:

  • Average price $151.26
  • Market cap $2,326,149,559 
  • 24h volume $132,485,000

Monero Price Charts
Monero Price Charts

Top three Monero markets are:

  • Bithumb 32%
  • Bifinex 14%
  • HitBTC 14%

Monero Markets
Monero Markets

The fact that the Monero crypto currency, aimed at anonymity, can be added to the hardware wallets of the Ledger family, became known in early September.

Monero Team to Kill Coin Burning Bug

A scenario of a hypothetical attack described by one of the participants of Monero's subreddit helped to identify the bug
26 September 2018   484

Developers of the Monero cryptocurrency have eliminated a bug that could allow intruders to "burn" funds in organizations' wallets, while sacrificing only a small amount in the form of transaction commissions. This is reported in the official announcement of the project.

A scenario of a hypothetical attack described by one of the participants of Monero's subreddit allowed to identify the bug.

Practically speaking this bug is exploited as follows. An attacker first generates a random private transaction key. Thereafter, they modify the code to merely use this particular private transaction key, which ensures multiple transactions to the same public address (e.g. an exchange's hot wallet) are sent to the same stealth address. Subsequently, they send, say, a thousand transactions of 1 XMR to an exchange. Because the exchange's wallet does not warn for this particular abnormality (i.e. funds being received on the same stealth address), the exchange will, as usual, credit the attacker with 1000 XMR. The attacker then sells his XMR for BTC and lastly withdraws this BTC. The result of the hacker's action(s) is that the exchange is left with 999 unspendable / burnt outputs of 1 XMR.

dEBRUYNE at Get Monero

Monero developers note that this method does not allow the attack organizer to directly receive the XMR coins deposited in this way. However, an attacker can withdraw XMR through bitcoins, and the exchange will remain with 999 non-consumable or "burned" outputs from 1 XMR.

The created fix was privately distributed to exchanges and large merchants, in order not to attract unnecessary attention to the time of elimination of problems. According to the developers, the exploit was not used to perform real attacks.

In early August, because of the critical bug in the code of Monero, which allows to manipulate the amount of transactions, Livecoin suffered losses exceeding $ 1.8 million.