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Litecoin was affected by a bug this weekend that enabled an attacker to transfer digital assets to a decentralized exchange, leading the network to undergo a reorganization designed to prevent the exploit from being cashed out. Litecoin said the issue originated in a security flaw within its MimbleWimble Extension Block (MWEB) privacy layer.
Litecoin described the event as a “reorg,” a process that purges faulty transactions from the blockchain. The reorganization removed transactions that stemmed from the MWEB vulnerability, according to Litecoin’s official X account.
With Litecoin blocks produced every 2.5 minutes on average, a 13-block reorg effectively rewrote about 30 minutes of the network’s transaction history. Litecoin said mining entities eventually adopted a version of the blockchain where the bug was never exploited.
Litecoin said the attacker used a previously unknown vulnerability to “peg out” coins from MWEB to third-party decentralized exchanges. At the same time, Litecoin said the bug was also used to disrupt major mining pools through a denial-of-service (DoS) attack.
In its update, Litecoin stated that:
Reorganizations are possible on proof-of-work networks. Bitcoin Magazine cited an earlier example in 2010, when the longest reorg rolled back 53 blocks after a faulty transaction created 184 billion Bitcoin, which were later wiped away.
Aurora Labs CEO Alex Shevchenko estimated that one multi-chain protocol, NEAR Intents, faced potential exposure of around $600,000. Shevchenko also questioned whether the vulnerability had truly gone undetected, noting that some miners were running software where the issue had already been patched.
On Monday, Litecoin had a total market capitalization of $4.2 billion and ranked as the 25th largest cryptocurrency by market cap, according to CoinGecko. The article said Litecoin’s price peaked around $410 nearly five years ago and was recently trading around $55.35, down about 1% over the last 24 hours.
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