Litecoin Cash Allegedly the Latest Small-Cap Altcoin to Suffer 51 Percent Attack

The alleged incident appears to have occurred on May 30, when Russia-based cryptocurrency exchange YoBit tweeted that it had identified a 51 percent attack on the coin, which forked away from litecoin (LTC) in February but has struggled to gain traction in the months since.

Litecoin cash developers appeared to allude to the attack in an announcement published the following day, adding that they are discussing a range of strategies to prevent similar incidents:

“We are currently investigating consensus-based strategies for increased protection against hashrate-driven / difficulty manipulation attacks. Some options may include PoS ideas. Our 0.16 codebase is otherwise ready to go, so along with increased network protection will come great features such as native bech32.”
LCC’s developers further said that while a long-term fix will likely require a hard fork, users should wait at least 100 blocks before feeling confident that a transaction has been confirmed and cannot be reversed by a malicious miner.

“As our network protection features will likely mean a hard fork, we will continue to communicate throughout development to ensure that all core nodes, pools, exchanges and the entire community is ready to update when the time comes. In the meantime, we urge everyone to wait 100+ blocks before treating transactions as confirmed.”