Krypton’s founder, Stephanie Kent, explained in an online post that the Krypton blockchain was hacked twice at the beginning of September 2016 by an anonymous group “51 crew”, adding that Shift chain was also attacked.
The hackers created their own version of the KR chain offline and entered Ethereum platform as the real KR chain by mixing large amounts of hashing power and DDos attacks on KR nodes. Currently, Krypton does not have a solution to defend against such an exploit but plans to move KR from an Ethereum-based proof-of-work blockchain to a Bitcoin-based proof-of-stake blockchain.
Bittrex and Yobit, where KR trades, have been announced regarding Krypton’s upcoming coin swap. As Krypton is moving to an entirely different protocol, it must digitally swap KR on the old chain for KR on the new one.
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