A 51% attack on the Pirl network was identified on 10/14/2018. As soon as it was discovered we conducted an investigation to verify the findings and asked exchanges to place their Pirl wallets into maintenance, until a more detailed analysis could be completed.
Once the attack was mitigated, we took the necessary steps to completely lock out the attackers and make sure that the exchange wallets were safe. We are now just steps away from deploying our remedial actions to the Pirl Blockchain, which will help prevent this kind of attack from happening in the future.
How ? (by using the HULK)
The network security solution we code named “Hulk” will be deployed in 2 stages:
- Stage 1: Fork –
Remediate the consequences of the attack and remove all artificially created PIRL while deploying Notary Smart Contracts both on the Pirl and Ethereum chains, adjust validation block count on exchanges, and the setting up of an O.M.S (Orphan Monitoring System) which will invalidate any node attempting an attack on the network.
- Stage 2: Masternode update –
Pirl Masternodes will become a firewall against any bad actor. With this new code the masternode network will be an active participant in ensuring the authenticity of transactions on the Pirl Blockchain.
The information above is far from detailed but, in order to be safe until “Hulk” first step is implemented, we will keep the blueprints of our security private.
We are extremely happy to have your support, reading the messages in discord have done a lot for the team motivation during the entire operation. We shouldn’t forget to mention Cryptopia and STEX as well for their fast and professional reaction which was also a critical factor for a successful outcome.
This is just a quick update, more information will follow!