MNMMG PIVX Fake Stake Crypto-Bridge

Crypto-Bridge Suspends Various Altcoin Deposits Following PIVX’s “Fake Stake” bug Disclosure

Investors in masternode currencies may want to pay close attention. A lot of currencies are forked from PIVX. It has become apparent that code base contains a critical bug which needs to be addressed. As such, exchanges are forced to suspend withdrawals and deposits for some currencies. Crypto-Bridge, the go-to platform for MN coins, is currently performing extensive maintenance on a fair few offerings.

The Recent PIVX Code “Bug”

As is always the case when a cryptocurrency-related flaw is discovered, a cautious approach is more than warranted. Most masternode currencies on the market on today are based on PIVX‘s code. That is a bit problematic in this particular. Since that code has an annoying bug, all derived currencies need to upgrade their code as well.

This particular attack is referred to as “Fake Stake“. It can pose a genuine threat to all of the vulnerable cryptocurrencies. Malicious actors can cause network nodes to get taken offline in the process. For masternode-oriented networks, that can be very problematic in the long run. Especially networks with fewer nodes can find themselves in a bit of a pickle. Solving this vulnerability needs to be the top priority.

It has been confirmed numerous currencies will upgrade their code accordingly. Until the matter is resolved, these currencies will undergo maintenance on the associated exchanges. Although trading is available, it seems deposits and withdrawals will remain unavailable. It is expected not all PIVX-based currencies suffer from this flaw either.

Crypto-Bridge Lists Vulnerable Coins

Most of the affected masternode-capable altcoins are traded on Crypto-Bridge. As such, the company has suspended deposits and withdrawals of most currencies. The current list of affected coins can be found in their Discord channel. ALQO, NORT, SCN, LRM, EBCR, XRH, VSX, and VITAE are just some of the currencies falling victim to this code bug.

Surprisingly, some currencies have also been cleared. More specifically, ALQO, BTXC, PCR, SCN, and XDMA deposits and withdrawals are active again. This further confirms the issue at hand is not as widespread as assumed at first. It is good to see the exchanges keep close tabs on what is going on exactly. Protecting investors is of the utmost importance during trials like these.

Disclaimer: All information provided in this article is for educational and entertainment purposes only. MNMMG Does not offer investment advice and is not responsible for any financial losses sustained by its readers.

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