Safe Coin attacked again. 3M Coins grabbed. Hard forked to mitigate.

Safe Coin attacked again. 3M Coins grabbed.

Well folks, it was done again. It has been less than a month and Safe Coin has been attacked again.

You might be familiar with what happened the last time, when the Komodo developer jl777 attacked the Safe Coin Network using Notary Nodes. You can read all about it here: The Dark side of Crypto: KOMODO (KMD) attacks SAFE COIN (SAFE)

What happened this time is an attack against the Interest Payment system of Safe Coin. The attacker first used NiceHash to hit the network with 5MHash/s, to accumulate the necessary Safe Coins in their private pool and then started to create transactions to them self. Allowing them to multiply 30K Safe to 3M Safe coins. The address that used NiceHash to accumulate the initial 30K Safe is the same address to exploited the Interest Payments system of Safe Coin.
Following the attack, the address got their hands on around 3M Safe coins that were then send to a Z-address.

The Safe Coin community and Team has decided to roll back the Block Chain and fork from a moment in time before the interest was accumulated. A new wallet was been released by Safe Coin to fix the potential of performing the attack again.

What we as miners see happening here is that Safe Coin is travelling over the path of each major Komodo bug that existed, but was not disclosed so far to the public.

The YouTube Vlogger Kevin Muldoon also picked up the story and ported it on the day it happened.

 

Following the hard fork Safe Coin had to do, was a refund to all miners that were affected by the exploit. New version of the wallet will be available soon on GitHub.

Now, as Safe Coin is going forward with its development, we are going to go back to the beginning of this story and why it all happened in the first place.

Safe Coin was on the radar of jl777 (Komodo Lead Developer) since day 1. jl777 actually opened an issue in the first day stating that SuperNet is still referenced in Safe Coin code. Then he demanded the dPOW abbreviation to be removed from the Safe Coin websites and explorers. Apparently Safe Coin pushed his buttons by forking Komodo, that he decided to show how superior Komodo is. Of course not by enhancing Komodo or making it better, but by attacking the competition and showing how a new coin that was just forked from a not up to date GitHub code is vulnerable to exploits. This reminds me of The Founder, when Michael Keaton said “Business is war. It’s dog eat dog, rat eat rat. If my competitor were drowning I’d walk over and I’d put a hose right in his mouth.”

And that is what jl777 and Komodo are doing here.
Here is the official statement jl777 gave about both incidents.

Jl777 seemed to have left all this behind, but 2 days later he posted on Safe Coin topic in bitcointalk that:
” Anyway, you now convinced me that I am like to attack SAFE. So I will.

To my mind you stole the notary mined coins, so I will get them back at some time in the future. This is my announcement of that. Feel free to keep rolling back the chain after each attack.

It was your choice to make me into an enemy.”
Full read here.

Well, like I said earlier – Business is War. But what that person does not comprehend is even that this is crypto and crypto is still new, unknown and like the wild west, crypto still resides in the real world. World that is govern by laws and rules. World in which you can’t exploit a vulnerability you are aware of in someone else product, and think there will be no consequences. World in which we as human beings promote Morals, Ethics, Friendship. Values which apparently are not valid for Komodo founder. But like I said – crypto, even as virtual, still remains in the real world and people involved in it are still governed by real laws and rules.

That been said, we are first to announce that Safe Coin team told us that they have reported this incident to local Police authorities. Police has guided Safe Coin representatives to the Federal Cybercrimes and Fraud department of Canada. It will take time, but sooner or later people behind the attacks will get what they deserve. Because when you attack and exploit someone else product to your own gain, there are always consequences. And this is exactly what Crypto needs right now. People that hack and exploit vulnerabilities to take responsibility and such acts to be discouraged from happening again.

Crypto is no different from any other branch in our lives. You don’t see a BMW mechanic going to a Honda that has a defective airbag, breaking in to the car and popping the airbag open – “Just to increase safety”. Usually people that hack in to Bank systems are prosecuted, no matter how much they stole by breaking the rules of the Bank. It does not matter if the exploit was for 0,000000001 Safe Coin or 3 Million. There are laws in the world, that most follow, and there are those that don’t. If Crypto is to go mainstream, such behavior must not be tolerated. People like jl777 and the rest that executed such an attack (ComputerGenie), should not be the faces that bring Crypto to the mainstream.

It is interesting why jl777 does not have a picture on the Komodo website. What does he have to hide? Well, authorities will surely try to find out who James JL777 Lee is, our investigation has lead us to believe he is called JOHN CHARLES LEON of Kingwood Texas that was involved with the NXT Project in 2014.

While one Developer/Hacker attacks their direct competitor, others actually help their competitors. Safe Coin team reported that they received help from the ZenCash Development team to mitigate the hack. So there is still hope that there are good people and good project out there that will help and try to oppose the dark elements in Crypto. Shout-out goes to blockops, cronic, Smrtz, and zenchick from the ZenCash Development Team in helping Safe Coin. May be this explains why Komodo is traded at 3$ while ZenCash at 31$. Been good always brings value.

Well, there you have it folks. The good and the bad can be found in Crypto world like they are in everything else around us. It is your choice what you decide to do, who to support and on which side you will be. The way we live our lives is what stays after we are gone, not the money or the fame. The choice is yours!

We will continue to report on any further developments on the Komodo vs Safe Coin saga.
While Komodo Team orders up the next PR campaign to fix what John/James is doing.

 

Featured image original from: themico