Justin Sun, founder of TRON and CEO of BitTorrent
One of the most popular blockchain projects, TRON, had undergone an attack by a malicious contract earlier today. Company CEO Justin Sun detailed the events in a recent tweet, reassuring users and developers that the system and all assets are “absolutely safe.”
TRON’s founder and CEO took it to Twitter to explain what transpired on the network. He said that during a routine 4.1 version upgrade period, the mainnet “was attacked by a malicious contract on 2020.11.02 at 06:14 (HKT).”
Sun claimed that the attacker had exploded the authority granted to the contract developer. The unknown perpetrator initiated malicious transactions and prompted the super representative (SR) to suspend block production.
The so-called super representatives play an essential part in TRON’s network by ensuring functions as block generation and bookkeeping. They are token holders that also obtain corresponding earnings.
The TRON network “gradually resumed block production” about two hours later and “returned to normal” after another hour. Sun reassured that “the data on the chain remains intact and user assets are absolutely safe.”
According to TRON’s founder, withstanding this attack has proven that his company’s network is the most resilient in the industry.
As CryptoPotato reported a few weeks back, the prominent cryptocurrency exchange OKEx suspended withdrawals after news broke that its founder was taken away by police officers and hasn’t returned yet.
The exchange said that funds are safe, but customers were unable to obtain their assets. The TRON Foundation has decided to take stand after receiving a “great number of requests from holders of TRX, BTT, JST, and SUN expecting to withdraw tokens on OKEx.”
Ultimately, Sun and his team will “do its best to permanently recognize and honor TRON tokens at 1:1 on OKEx.” This means that the TRON Foundation will compensate investors with its own capital in the worst-case scenario in which they are unable to access their tokens.
The post clarified that this decision “marks our endeavor to revive the industry from within” and had “nothing to do with the OKEx platform itself.” Furthermore, the TRON Foundation pledged to keep supporting OKEx.