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The life of Coin Verge succumbs to 51% attack [Again]


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The privacy-focused cryptocurrency Verge (XVG) seems to have succumbed to a 51% attack for the second time since the beginning of April.

According to data published on BitcoinTalk by the user of the ocminer forum – the operator of the mining pool Altcoin Suprnova – an attacker seems to have managed to fork the Blockchain Verge via an attack to 51 %. To do this, the attacker has handled a bug in the Verge code that allows malicious minors to set false timestamps on the blocks, and then quickly extract new ones quickly.

The Verge protocol uses a rotation of five mining algorithms, and an image provided by ocminer suggests that the attacker has taken control of two of them – scrypt and lyra2re – has them virtually without problems and used fake timestamps to deceive the network by accepting them into the main chain.

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Source: ocminer / BitcoinTalk

The attack appears to have been carried out between blocks 2155850 and 2206272, allowing the attacker to abscond with about 35 million XVG – $ 1.75 million at the current exchange rate – in just a few hours, the attack having disappeared at the time of writing , nothing seems to prevent an attacker from taking it back in the future.

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The attacker managed to take control of two XVG algorithms and to exploit them almost. | Source: verge-blockchain.info

The response from the developers of Verge, meanwhile, was less reassuring: the project recognized a mining problem in a tweet on Monday afternoon, but the Attributed to a DDoS attack directed against several XVG mining pools. account has not been tweeted since.

The attack seems similar to that of the Verge network, less than two months ago, when a malicious miner acquired 20 million XVG, worth more than 1.1 million dollars at the time. Then, as now, Verge's developers have downplayed the severity of the exploit, drawing criticism from many members of the community.

Verge activated a hard emergency boot designed to fix the bug, but critics, including Ocminer, argued that the upgrade was only a "bandage" and that It did not eliminate the underlying vulnerability.

The price of the XVG has dropped by about seven percent over the past 24 hours, which is moderately worse than the market as a whole. XVG currently ranks as the 31st largest cryptocurrency and has a circulating market capitalization of approximately $ 752 million.

As CCN reported, Verge recently signed a high-level partnership with the owner of the world's largest adult entertainment sites to allow users to buy premium content using XVG .

"Of course, @mindgeek has made the right decision and has chosen a secure and robust cryptocurrency to implement," concluded Riccardo Spagni, head of cryptocurrency-focused Monero privacy, in a tweet published Tuesday. .

Verge did not immediately respond to a request for comment.

Featured image from Shutterstock.

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Comments (1)

good article very hopeful

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