LTC Dusting Attack on Binance Affected Nearly 300,000 Addresses

Blockchain data and metrics firm Glassnode revealed its latest findings in a tweet on Aug. 15, saying that the LTC dusting attack affected 294,582 addresses. The analysis ostensibly also indicated a similar scale attack in April.

The recent dusting attack against fourth-biggest altcoin Litecoin (LTC) on major cryptocurrency exchange Binance affected 294,582 addresses rather than the 50 Binance reported, according to a recent metrics report.

As previously reported by Cointelegraph, the LTC dusting attack on Binance occurred on Aug. 9. In the dedicated tweet, Binance linked to a transaction that Binance named as part of the attack in which a fraction (0.00000546 LTC) of a coin to 50 addresses.

Source: glassnode

A network-wide event

James Jager, project lead at Binance Academy and the person who first identified the attack, discussed the event with Cointelegraph. Jager said:

“It was network-wide, which meant it affected all users of litecoin that had an active litecoin address at the time. The address of the person responsible for the dusting attack can be found here: https://blockchair.com/litecoin/address/LeEMCDHmvDb2MjhVHGphYmoGeGFvdTuk2K

Commenting on the attack Jan Happel, co-founder of Glassnode, told Cointelegraph that “the term ‘dusting attack’ is a fairly broad statement and the actual intent behind the attacks don’t necessarily always align to be the same.” Happel further explained:

“The person behind the dusting attack owns a mining pool based out of Russia, EMCDdotio. They reached out to express that their intent was to advertise their mining pool to the users of Litecoin, however, it’s unclear from our perspective or anyone else’s as to whether there were alternative motives.”

Litecoin Founder Charlie Lee Addresses Project Abandonment Allegations

Litecoin (LTC) founder Charlie Lee has addressed recent project abandonment allegations.

In a series of tweets published on Aug. 10, Litecoin founder Charlie Lee addressed allegations that Litecoin did not have further plans for the coming year:

“Recently there’s been a lot of FUD about Litecoin having no code commits in 2019. When you look at Litecoin GitHub, it would seem like we did no work in 2019. There are actually 2 reasons why this is the case even though we have been developing.”

The first reason Lee provided for the apparent lack of work on Litecoin is that most of the updates applied to Litecoin were originally developed for Bitcoin and as such, only the original development dates appear. He explained:

“What this means in practice is that although we did work on and release the latest Litecoin Core in May of 2019, if you look at GitHub, most of the commits where sic done in 2018. So it would seem like Litecoin developers took the year off.”

The second reason provided is that Litecoin developers do not work on the master branch of the project on GitHub. This decision is meant to ensure that building from sources obtained from this branch do not return broken builds. Indeed, leading Litecoin developer Adrian Gallagher has been actively working on the Litecoin Core release 0.18.1 on a personal branch, according to Lee. He also stated:

“In the 8 years history of Litecoin, we’ve only had a handful of core developers working on Litecoin Core.”

As Cointelegraph reported yesterday, major cryptocurrency exchange Binance claimed that a dusting attack occurred against Litecoin. Per Binance’s post:

“A dusting attack refers to a relatively new kind of malicious activity where hackers and scammers try and break the privacy of Bitcoin and cryptocurrency users by sending tiny amounts of coins to their personal wallets.”

At press time, Litecoin is up 5.41% on the day to trade at $87.87, according to data from Coin360.

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