No Result
View All Result
Subscribe
Saturday, February 27, 2021
  • Home
  • Crypto News
  • Offers
  • Cookie Policy
  • Disclaimer
  • Privacy Policy
  • Terms of Use
  • DMCA Notice
  • Contact
  • Home
  • Crypto News
  • Offers
  • Cookie Policy
  • Disclaimer
  • Privacy Policy
  • Terms of Use
  • DMCA Notice
  • Contact
No Result
View All Result
CRYPTOCURRENCIESNEWS
No Result
View All Result
Home Crypto News

Verge of catastrophe: 200 days transactions wiped from blockchain

by admin
February 16, 2021
in Crypto News
Verge of catastrophe: 200 days transactions wiped from blockchain

Privateness-focused blockchain community Verge (XVG) has skilled a big block reorganization, changing transactions courting way back to July 2020.

Regardless of being described as probably “the deepest reorg that has ever taken place in a high 100 cryptocurrency,” analysts are but to verify that the incident comprised a coordinated assault.

Coinmetrics COO Antoine Le Calvez was one of many first to note the reorg, sharing a screenshot on Twitter displaying that a minimum of 560,000 blocks had disappeared on February 15.

Appears like $XVG (Verge) skilled a large 560k+ blocks reorg.@coinmetrics’ node is on a brand new chain whose final frequent ancestor with the earlier chain dates to July 2020.

— Antoine Le Calvez (@khannib) February 15, 2021

Le Calvez prompt the reorg might have been brought on by a double-spend, during which a lot of XVG tokens are used concurrently for 2 separate transactions. Nonetheless, because of the magnitude of the incident, Calvez admitted it should take a while for builders to comb via the info to determine the exactsource of the reorg.

On account of this roll-back, any person who acquired or bought XVG tokens since July 2020 might have misplaced their whole stability, with Deribit Insights’ researcher “Hasu” tweeting that “hundreds of balances have merely evaporated.” One Verge investor tweeted that their pockets stability is now empty after the assault.

Regardless of the dimensions of the potential assault, Hasu believes it will likely be “fairly simple to counter,” advancing that “nodes will reject the attacker’s chain and restore the earlier one.” Hasu acknowledged the incident highlights the vulnerability of blockchains supported by GPU mining.

This isn’t the primary time a reorg has been prompt to fend off would-be attackers, with Hasu referencing again to 2019 when Vertcoin succumbed to a 51% assault. The identical 12 months, after main alternate Binance was hacked for greater than $40 million, founder and CEO Changpeng Zhao floated the concept of conducting a Bitcoin reorg to get well the funds, nevertheless, the concept was shortly determined in opposition to.

An unconfirmed screenshot shared by Twitter person @etn_electroneum confirmed XVG advisor AlexanDre stating the supply is linked to some nodes who needed to create a fork. He additionally added that there was not a 51% assault.

XVG advisor AlexanDre telegram announcement on Verge reorg. Supply: Twitter

Within the final six hours, XVG has dropped by virtually 15% to $0.0224. This has resulted in it shifting out of the highest 100, in keeping with Coingecko. Verge’s explorer remains to be down.

Privateness-focused blockchain community Verge (XVG) has skilled a big block reorganization, changing transactions courting way back to July 2020.

ShareTweetShare

Related Posts

What DeFi must do subsequent to maintain institutional gamers
Crypto News

What DeFi must do subsequent to maintain institutional gamers

February 27, 2021
Grayscale's Bitcoin premium has dropped to file lows beneath zero
Crypto News

Grayscale's Bitcoin premium has dropped to file lows beneath zero

February 27, 2021
Hen and greens: $97B retail agency makes use of IBM blockchain to trace meals provide
Crypto News

Hen and greens: $97B retail agency makes use of IBM blockchain to trace meals provide

February 27, 2021
Belarusian authorities explores potential transfer into crypto mining
Crypto News

Belarusian authorities explores potential transfer into crypto mining

February 27, 2021
Why is Bitcoin $86K in Nigeria? Right here's why the BTC premium is large in some nations
Crypto News

Why is Bitcoin $86K in Nigeria? Right here's why the BTC premium is large in some nations

February 27, 2021
China’s CBDC is about home dominance, not beating the greenback
Crypto News

China’s CBDC is about home dominance, not beating the greenback

February 27, 2021

Most Read

No-loss lottery PoolTogether cracks 50 million in deposits after token airdrop

No-loss lottery PoolTogether cracks 50 million in deposits after token airdrop

February 20, 2021
Exmo crypto alternate suffers hack, halts all withdrawals

Exmo crypto alternate suffers hack, halts all withdrawals

December 21, 2020
JPMorgan Chase execs weigh in on stablecoin regulation, crypto competitors

JPMorgan Chase execs weigh in on stablecoin regulation, crypto competitors

January 16, 2021
XRP value beneficial properties 86% after Wall Road Bets’ crypto wing says 'pump it'

XRP value beneficial properties 86% after Wall Road Bets’ crypto wing says 'pump it'

January 31, 2021
Blockchain-based Gaming Platform Exceedme Publicizes Strategic Buyers And Companions

Blockchain-based Gaming Platform Exceedme Publicizes Strategic Buyers And Companions

December 27, 2020
Chainlink hits new highs, however is LINK about to drag one other 150% parabolic transfer?

Chainlink hits new highs, however is LINK about to drag one other 150% parabolic transfer?

February 10, 2021
  • Home
  • Crypto News
  • Offers
  • Cookie Policy
  • Disclaimer
  • Privacy Policy
  • Terms of Use
  • DMCA Notice
  • Contact

Copyright © 2020 CryptoCurrenciesNews | All Rights Reserved

No Result
View All Result
  • Home
  • Crypto News
  • Offers
  • Cookie Policy
  • Disclaimer
  • Privacy Policy
  • Terms of Use
  • DMCA Notice
  • Contact

Copyright © 2020 CryptoCurrenciesNews | All Rights Reserved

  • BTC

    (USD 47,511.33)

    1%
  • ETH

    (USD 1,489.04)

    29.03%
  • XRP

    (USD 0.45)

    0.0235%
  • BCH

    (USD 494.52)

    17.84%
  • EOS

    (USD 3.79)

    0.217%
  • LTC

    (USD 176.90)

    7.34%
  • ADA

    (USD 1.40)

    0.304%
  • XLM

    (USD 0.46)

    0.0814%
  • MIOTA

    (USD 1.21)

    0.09767%
  • NEO

    (USD 38.81)

    1.31251%
  • XMR

    (USD 221.55)

    18.65471%
  • DASH

    (USD 217.15)

    6.26661%
  • TRX

    (USD 0.05)

    0.00331%
  • XEM

    (USD 0.54)

    0.05429%
  • USDT

    (USD 1.00)

    0.0006%
  • VEN

    (USD 7.16)

    0.13963%