Privacy Coin Verge Suffers Third 51% Attack, Analysis Shows 200 Days of XVG Transactions Erased – Altcoins Bitcoin News

According to various reports, the cryptocurrency network Verge has suffered a 51% attack that led to a massive 560,000+ block reorganization. Analysts believe the Verge network attack could be the deepest blockchain reorganization (reorg) in history with roughly 200 days worth of verge transactions wiped.

Reports Show Verge Network Experienced a Massive 560,000+ Blocks Reorg

The blockchain Verge and its native token XVG once made headlines for being added to the popular adult website Pornhub. This week, the Verge network has been 51% attacked according to multiple analysts and observers on social media. Verge has suffered from a total of three 51% attacks. One back in April 2018, and then another 51% attack a month later, when a malicious XVG attacker rejected a number of blocks.

The network data analyst at Coin Metrics, Lucas Nuzzi tweeted about the issues with XVG on February 15. The past 200 days worth of XVG transaction history just vanished,” Nuzzi told his 9,000 Twitter followers. “This is likely the deepest reorg that has ever taken place in a “top 100” cryptocurrency,” he added. The action was caught by a Coin Metrics node according to Antoine Le Calvez who also wrote about the Verge network situation.

“Looks like XVG (Verge) experienced a massive 560k+ blocks reorg,” he said. “Coin Metrics node is on a new chain whose last common ancestor with the previous chain dates to July 2020,” Le Calvez added with a screenshot of the action.

Privacy Coin Verge Suffers Third 51% Attack, Analysis Shows 200 Days of XVG Transactions Erased

The researcher and author Hasu also wrote about the problems with XVG. “Verge (XVG) is experiencing the deepest ever reorg in any PoW blockchain,” Hasu said at the time. “An attacker has replaced 200 days worth of [transactions] with empty blocks, so thousands of balances have simply evaporated.”

Hasu added:

What sounds scary is actually pretty easy to counter – nodes will reject the attacker’s chain and restore the previous one. But it’s another data point…

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