The developers of the Firo cryptocurrency, formerly known as Zcoin, identified several “suspicious” transactions in the Lelantus protocol and temporarily deactivated it to solve the problem.
The Firo team has temporarily disabled Lelantus’ default transaction privacy protocol. Project manager Reuben Yap announced this on the Firo forum:
“Our team is working with several parties, including the engineers at Trail of Bits who tested our Lelantus crypto library, another cryptographer and security experts to identify the problem. We have made significant progress in finding the cause and are working on a validation code to make sure we find the underlying issue before resuming Lelantus. Our team is also developing a plan to restore Lelantus functionality with minimal impact. ”
The Lelantus Protocol, which launched in January 2021, invites users to anonymize their crypto assets to ensure the privacy of transactions sent through Firo wallets.
Transparent transactions have moved to the selectable options. The update made it possible to use the Firo partial pay-off and burn model. Less than a week after the launch of the protocol, a 51% attack was committed on Firo.
“Although we have taken practical precautions, including audits, developing advanced privacy technologies carries risks. Precautions have helped to reduce damage as the technology develops and is being tested in combat conditions, ”wrote Yap.
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