TRON CEO Justin Sun posted a short tweet on November 2, stating that the TRON network has “returned to normal” and encouraged users to spend their money on TRON. He later confirmed that the network was indeed hacked.
Sun stated that a contract initiated malicious transactions using the authorization given to the developer. The super representative, a trusted TRON representative responsible for bookkeeping and transaction approval, had to stop the production of new blocks during the attack. A user on TRON’s subreddit shared a post stating that the network was down at the time of the attack, and other users confirmed this.
The attack Turkey time of 01: 14 04: It took about 3 hours to 40. According to Sun, the attackers were trying to make a profit by closing the network.
Sun added that the data in the chain remains intact and user assets are absolutely safe ”.
TRON price dropped after the attack
Despite Sun’s assurances, the price of TRON’s TRX token fell almost 3 percent following Sun’s announcement.
The TRON Foundation has not yet made an official statement about the attack, just tweeting Sun’s comment.
The project has been the focus of various discussions over the years, mainly due to Sun’s activities on social media. The blockchain project leader falsely claimed that TRON’s capabilities exceeded Ethereum, and received a lot of criticism from industry experts.
TRON has also been accused of stealing the Ethereum whitepaper along with the code from other projects. Vitalik Buterin, co-founder of Ethereum, as well as independent security researchers, confirmed these allegations.