Stohn Coins’ journey toward becoming a staple in digital transactions has been marked by steady growth and the anticipation of listing on prestigious exchanges, including MEXC. However, like any pioneering venture in the technology sphere, we’ve encountered challenges that test our commitment to security, integrity, and community trust.
Recently, our network faced a significant setback due to a 51% mining attack. This sophisticated maneuver exploited a vulnerability on the blockchain, leading to a scenario where transactions with negative balances were erroneously validated by the exchanges. It appears a malicious node was used to confirm the transaction, compelling the exchanges to recognize it as legitimate when they were never confirmed on the blockchain. This incident unfolded over the past week, resulting in unauthorized transactions being mistakenly accepted as genuine on exchanges. Consequently, this not only caused the Stohn Coin’s market value to drop but also led to the unfortunate loss of assets for some coin holders that have their Stohn on an exchange.
Understanding the gravity of this situation, our core team, in collaboration with consultants, has been tirelessly working around the clock over the past week to address and rectify the vulnerabilities exposed by this attack. We are committed to not only restoring but also enhancing the security and robustness of Stohn Coin’s infrastructure. Our corrective measures include comprehensive upgrades and patches to the Stohn Coin core, along with the introduction of multiple safety features designed to safeguard against future threats. The core of Stohn coin has undergone a comprehensive upgrade, enhancing its security and patching all previously known vulnerabilities. This upgrade elevates the core’s security measures to align with those implemented in the latest Bitcoin release, ensuring a robust and secure environment for users.
We have established a dedicated Stohn fund, specifically designed to reimburse any affected coin holders directly on affected exchanges. These exchanges will then distribute the recovered Stohn to users who experienced losses, thereby reaffirming our dedication to the community and ensuring a fair resolution for all involved.
This ordeal has undeniably been a daunting challenge. Yet, it has also catalyzed growth, pushing us to fortify our defenses and reaffirm our commitment to our users. We remain on track for our planned listing on MEXC, with assurances that all exchanges will resume normal operations as soon as they have upgraded to the latest release. This episode underscores our resolve to not only navigate through adversities but to emerge stronger, equipped with enhanced security measures and an unwavering dedication to our community.
As we move forward, we extend our heartfelt gratitude for the patience, support, and trust our community has shown. Rest assured, Stohn Coin is more than just a cryptocurrency; it’s a testament to the strength and resilience that comes from unity and the relentless pursuit of excellence. Together, we will continue to set new benchmarks in the digital currency landscape, backed by a foundation of security, transparency, and community-centric values.
The latest Update as of Tuesday, February 27th: All code updates completed. Most exchanges have upgraded to V3.0.2 release. The community fund to reimburse exchanges with all lost Stohn Coins will be available by the end of the week.
