Verge Gets Hit with 51% Attack Again

Verge Gets Hit with 51% Attack Again  Verge (XVG) , the crypto privacy coin, has taken on a 51% attack for the second time since April. The attacker appears to of forked the Verge blockchain through this attack. The attacker has accomplished this by manipulating a bug within the Verge code which allowed malicious miners to allocate false timestamps on several Verge blocks. The miners rapidly created new blocks in quick succession after the timestamps were created. The blocks affected within the attack appear to have been between,  blocks 2155850 and 2206272, which enables the attacker to abscond 35 million Verge coins worth over $1.75 million at the current exchange rate within a few hours. The attack has stopped at the time of this release, however there doesn’t appear to be any future preventative measures in place that would stop another attack in the near future. The Verge development team has responded with a less than reassuring tweet which attributed the event to a DDOS attack. This drew much criticism from the crypto community. Verge currently ranks as the 31st largest cryptocurrency with a circulating market cap of $752 million.

Verge (XVG) , the crypto privacy coin, has taken on a 51% attack for the second time since April. The attacker appears to of forked the Verge blockchain through this attack.

The attacker has accomplished this by manipulating a bug within the Verge code which allowed malicious miners to allocate false timestamps on several Verge blocks. The miners rapidly created new blocks in quick succession after the timestamps were created.

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The blocks affected within the attack appear to have been between,  blocks 2155850 and 2206272, which enables the attacker to abscond 35 million Verge coins worth over $1.75 million at the current exchange rate within a few hours.

The attack has stopped at the time of this release, however there doesn’t appear to be any future preventative measures in place that would stop another attack in the near future.

The Verge development team has responded with a less than reassuring tweet which attributed the event to a DDOS attack. This drew much criticism from the crypto community.

Verge currently ranks as the 31st largest cryptocurrency with a circulating market cap of $752 million.

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