Verge to Implement Hard Fork Due to 51% Attack

Network hash of Verge get under control of unknown miner
05 April 2018   184

Verge coin fell the victim of 51% attack. Unknown miner has gained control over the network hash and can now change transactions, questioning the integrity of the whole blockchain. The attacker stole about 250,000 Verge coins and eventually forced the project team to prepare a hard fork.

There's currently a >51% attack going on on XVG which exploits a bug in retargeting in the XVG code. Due to several bugs in the XVG code, you can exploit this feature by mining blocks with a spoofed timestamp. When you submit a mined block (as a malicious miner or pool) you simply set a false timestamp to this block one hour ago and XVG will then “think” the last block mined on that algo was one hour ago.
 

ocminer at Bitcointalk

The attacker managed to miner a lot of blocks with seconds between them. This was done using the scrypt algorithm (which was considered impossible). The attack was less intense in three hours, but by that time the attacker had confirmed hundreds of blocks, which led to the need to roll back the blockchain to compensate for the damage.

Developers published on Github a hotfix for a snapshot of the project to temporarily fix the problem, which he managed to do only with the second attempt. In order to remedy the situation once and for all, the hardfork will be initiated.

XVG Price Chart
XVG Price Chart

During the last 24 hours, the price of XVG decreased by 8%. At the moment of press, these are main market parameters:

  • Market Cap: $839 768 864
  • Average Price: $0,056649
  • 24h Volume: $185 826 000

Dow Jones' MarketWatch to Track Additional 8 Cryptos

Now it also shows data on  Ethereum, Ripple, Bitcoin Cash, Litecoin, Ethereum Classic, Monero, Dash and Zcash
25 April 2018   61

MarketWatch, the news department of the Dow Jones Media Group begun to track the market movements of eight new cryptocurrencies. This is reported by Coindesk.

The MarketWatch website tracks the bitcoin price from 2014, but from now on, users will also be offered data on Ethereum, Ripple, Bitcoin Cash, Litecoin, Ethereum Classic, Monero, Dash and Zcash.

The new service will publish real-time quotations of these coins against the US dollar and the euro, as well as historical trends in the price movement, using the data from the Kraken crypto exchange.

It's no doubt that our readers, as the world's savviest investors, have an eye on digital currency and we're happy to be expanding our real-time tracking of a total of 9 cryptocurrencies in both Euro's and USD, with Kraken's help.
 

Dan Shar

General Manager, MarketWatch

Last week, the financial news agency Dow Jones Media Group announced a partnership with the Brave startup. Within its framework, DJMG will test the possibilities of a blockbuster-developed platform for online advertising developed by a start-up, and will provide access to premium content of Barron's MarketWatch publications to about 2 million users of the Brave browser.