Breaking: Justin Sun addresses malicious attack on the TRON network

• TRON network survived a malicious attack during an upgrade on Monday.
• Justin Sun has assured users that the issue has been dealt with and the network is back to optimum operation.

The CEO of TRON, a decentralized smart contract building platform, Justin Sun, has addressed the malicious attack during a software upgrade on November 2. According to Sun, the network was undergoing a routine upgrade on version 4.1 of the mainnet but “was attacked by a malicious contract on 20.11.02 at 06:14 (HKT).

Apparently, the attack utilizes the authority given to the contract by the developer. Therefore, the people behind the attack “initiated malicious transactions and caused the super representative to suspend the production of blocks.“

Sun claimed that the malicious attack on TRON was motivated by greed. The people behind it hoped to take advantage of “the busiest blockchain network in the industry to get profit from the suspension of block production” However, the development team at TRON responded quickly and singled out the issue, which was fixed immediately.

At the moment, the team is working with the network’s super representative (SR) to ensure that upgrades occur seamlessly. Besides, block production gradually resumed on the mainnet and within a few hours. Sun assured the users of TRON that all blockchain data is intact while their assets are safe.

TRON on the verge of a breakout

TRON is heading into a period of high volatility according to the Bollinger bands’ constriction on the daily chart. The 100 Simple Moving Average limits the immediate upside highlighted at $0.026. A daily candlestick close above the resistance or below support will determine where TRX is headed next, with the most significant interest points as the potential targets.

TRX/USD daily chart