Zcoin’s Founder May Be Receiving Threats From State Backed Attackers

By Rishma Banerjee

Zcoin, which is a cryptocurrency that uses zero-knowledge proofs, thus allowing users to prove ownership of a token without having to reveal which token they own, is a proof of work based cryptocurrency. ZCoin, an implementation of the Zerocoin protocol, which “guarantees anonymous transactions.” Now, as per recent reports, its founder, Poramin Insom, has allegedly been targeted by certain “government-backed attackers” who are apparently trying to steal his Google account login credentials.

Popular consensus believes that Insom is being targeted for creating the cryptocurrency after someone added a piece of anti-government content to Zcoin’s blockchain, which given the technology’s nature, cannot be censored.

Insom said on social media that Google had issued a warning to him regarding state-backed attackers were apparently going after him and had also advised him to join Google’s Advances Protection Program, created for “users at risk of targeted attacks.”

The warning issued by Google read:

“This happens to less than 0.1% of all Gmail users. We can’t reveal what tipped us off because the attackers will take note and change their tactics, but if they are successful at some point they could access your data or take other actions using your account.”

It also notes, however, that there’s quite chance it’s a false alarm and the warning had been issued because Insom created a privacy-centric cryptocurrency and saw the warning are merely a coincidence.

While it may well be a false alarm, some believe its related to the cryptocurrency’s blockchain having anti-Thai government content. Many also believe that it may Thailand’s government who could be behind the attack.

This belief has been prompted more by that fact that last year, members of the Thai rap collective called “Rap Against Dictatorship” released a single against the country’s authorities. This had sparked controversy and Thailand’s deputy national police chief, Srivara Ransibrahmanakul, had publicly implied that the artists behind it could be prosecuted for sedition.

Some also believe that given Insom created the cryptocurrency, he is now being targeted by the government, presumably as it looks for answers on how it can compromise the cryptocurrency’s blockchain or figure out whether he was behind the transaction.