Attack on the popular Altcoin! Transactions were deleted and the price collapsed

 

Attack on the popular Altcoin! 

Verge (XVG) is the first cryptocurrency to be adopted by adult content site Pornhub. It turned out that the popular altcoin project was recently hacked 51 percent. Due to this attack, more than 200 days of the cryptocurrency's transaction history was deleted. It is reported that a reorganization of 560 thousand blocks was made in the crypto currency after the 51 percent attack. Due to this development, the XVG price collapsed by 20 percent.



Popular altcoin Verge was hacked 51 percent!

It turned out that the powerful altcoin Verge (XVG) was recently attacked 51 percent. Due to this attack, more than 200 days of cryptocurrency's transaction history was deleted. Lucas Nuzzi of the cryptocurrency research firm CoinMetrics commented on this attack. According to Lucas Nuzzi, this is the largest chain editing process seen for a project among the top 100 cryptocurrencies.

After this devastating attack, a reorganization of 560 thousand blocks was made in the crypto currency. Due to the attack, the price of XVG, the project's crypto currency, collapsed by 20 percent. The Verge team made an official statement on the issue and said:

ATTEMPTED TO TAKE THE VERGE (XVG) BLOCKCHAIN. THE DEVELOPMENT TEAM WORKING WITH THE MINERS MADE A DAMAGE PREVENTIVE CORRECTION. FURTHER, WE EXPECT EVERYTHING TO RETURN TO NORMAL IN 13 HOURS.

Charlie Lee: Beware of cryptocurrencies that are weak against 51 percent attack!

Litecoin inventor Charlie Lee commented on the incident. Charlie Lee warned his followers of cryptocurrencies that were weak in the face of a theoretical 51 percent attack. Charlie Leek said on the subject:

ALWAYS BE CAREFUL FOR MONEY WITH HIGH NICHASH FEATURE. WITH NO PRE-COST, THE INCREASED COST CAN BE HIGHLY CHEAP. AND IT WILL BE EASY TO ATTACK 51% AND RESTORE THE CHAIN.

Originally released as "Dogecoin Dark" in 2014, Verge is the first cryptocurrency adopted by Pornhub. With this development, crypto money became popular again in April 2018. It was reported by Pornhub that XVG was chosen for its anonymity-oriented features. As Kriptokoin.com previously reported, Pornhub also started accepting Bitcoin and Litecoin in September 2020.