Verge XVG under 51% attack again

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Verge XVG under 51% attack again

SuprNova Pool has now reported that XVG network is under 51% attack again. As a result of the attack, the attacker is getting all the mining rewards.

SuprNova Pool further cited the below screenshot as a proof of the ongoing attack. Notice that the Scrypt and Lyra2RE difficulties are the same.

Based on the blocks mined since the attack started, the attackers have made more than a $500,000 already.

Earlier in April this year, Verge (XVG) suffered a 51% attack and was forced to fork. A bug in the Verge code enabled the attacker to spoof timestamps and cause blocks to be produced. Last time, around 250,000 XVG were stolen by the attacker.

What is a 51% attack?

A 51% attack on a cryptocurrency blockchain happens when an attacker gains access to 51% of the total network hashrate. This is becoming more easier to perform with using on-demand hashrate buying services such as Nicehash. Once the attacker gains 51% hashrate, they can create blocks that are not genuine and can gain the block rewards. Last week, BTG suffered a 51% attack on it’s blockchain.

3 Responses

  1. […] 3:40 PiedPiperCoin (PPI) Interviews coming soon 4:35 Verge (XVG) 51% attack http://cryptocoin123.com/verge-xvg-under-51-attack-again/ 6:19 IOTA for peace 7:40 Blue Whale Foundation (BWX) AMA: […]

  2. […] 3:40 PiedPiperCoin (PPI) Interviews coming soon 4:35 Verge (XVG) 51% attack http://cryptocoin123.com/verge-xvg-under-51-attack-again/ 6:19 IOTA for peace 7:40 Blue Whale Foundation (BWX) AMA: […]

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