Verge to Implement Hard Fork Due to 51% Attack

Network hash of Verge get under control of unknown miner
05 April 2018   407

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

Change.org to Mine for Charity

According to the calculations, if 10k computers will run the minning screensaver for 12 hours a day, the charity fund will receive $10k monthly
18 July 2018   77

Social platform for petitions Change.org announced the launch of a screensaver that mines Monero on users' computers. All tokens will be transferred to the charity fund of Change.org. This is reported by Coindesk.

This initiative was launched in partnership with the marketing agency Tracelocke Brazil.

Representatives of Change.org report that the screensaver will consume resources only when users do not use the computer. According to their calculations, if 10 thousand computers will run the screensaver for 12 hours a day, the charity fund will be transferred $ 10 thousand monthly.

At the moment the program is available only for Windows users and the platform did not report on the release plans for the version for macOS.

Note that at the end of April, a similar action was launched by the Australian unit of the United Nations International Children's Emergency Fund; (UNICEF). The website "Page of Hope" mines Monero cryptocurrency.