The network on which decentralized cryptocurrency Verge (XVG) is recorded has suffered a 51% cybernetic attack in April 2018.
According to the report posted on BitcoinTalk by the operator of the crypto mining pool Suprnova, the cybercriminal has successfully managed to fork the Verge network in a proportion of 51%. To reach this point, the attacker waited for the right time when the network suffered an error. Thus, the malicious miner has had a green wave to enter the platform system.
— supr nova *no giveaways* (@SuprnovaPools) May 22, 2018
The platform’s protocol contains 5 mining algorithms. According to the image posted by ocminer, the operator of Suprnova, we will observe that the attacker managed to take control of two of them – scrypt and lyra2re, making some changes to the system in order not to be detected.
The blocks affected by the attack were those situated between 2155850 and 2206272, giving the attacker the chance to extract about 35 million of XVG in a short time, estimated at $ 1.75 million. The attack has already been eliminated.
The Verge’s answer seems to be masked. The team has mentioned in a Twitter post on Monday about a mining issue, associating it with a DDoS attack. Since then, the Twitter page has not provided any new information.
it appears some mining pools are under ddos attack, and we are experiencing a delay in our blocks, we are working to resolve this.
— vergecurrency (@vergecurrency) May 22, 2018
A similar case occurred two months ago when an attacker entered the Verge system and managed to extract 20 million XVG, estimated at over $ 1.1 million at the time. Even though Verge has taken action to resolve the issue, critics exclaim that the upgrade can be characterized as a “band-aid,” not really eliminating the risk of vulnerability.
According to CoinMarketCap, Verge can be traded at $ 0.043152, having a decrease of 17.45% and a market capitalization of $647,186,544.