According to sources, the BitcoinSV blockchain technology was subjected to a 51% cyberattack on Tuesday, August 3, 2021. This happened when the network underwent a 100 block reorg. It brushed away 570k deals, as revealed by Nikita Zhavoronkov, the creator of Blockchain.
BitcoinSV Reorganization Seen by Blockchain Experts
Despite difficulties with the algorithm in mid-July, the BitcoinSV network has already been experiencing difficulty recently. Somewhere at moment, a single organization named Taal was mining 78% of the said blockchain.
There is also a handful of exchange suppliers that suspended operations. On August 3, Nikita Zhavoronkov, the creator of Blockchain, and a number of on-chain monitors observed that the BSV chain had undergone a thorough blockchain rearrangement, also referred to as a reorg.
On Tuesday, Zhavoronkov posted regarding the problem, then confirmed that perhaps the blockchain had missed 100 blocks. Coin Metrics’ chain experts seen the reorg, along with Lucas Nuzzi, that reportedly posted about BSV’s difficulties on Tuesday.
BSV is now experiencing a tremendous 51% onslaught. During an alleged strike yesterday, Nuzzi indicated that certain real hashing power was released today at 11:46 a.m., and the assailants were successful. Around a dozen blocks are now being reorganized, and up to three different variants of the network are being farmed at the same time throughout pools.
The Bitcoins Group Replies by Labeling “Illegal Chains”
On August 4, a representative of the Bitcoin Association named Alex Speirs revealed the BSV version of the incident. The release is titled, Statement on the BitcoinSV network block re-organization attack in August 2021.
The Bitcoin SV blockchain is now undergoing a sequence of block re-organization assaults by a hostile player seeking to unlawfully double-spend BSV coins, according to Speirs. The association thinks that’s the same hacker that launched block reorganization assaults on the BSV platform on June 24, 2021, and July 1, 6, as well as 9, 2021.
The Bitcoin Organization and the Bitcoin SV Infrastructure Committee, as per Speirs, advise node administrators to flag illicit chains started by the hacker as invalid. Furthermore, Speirs stated that the BSV organization will gather evidence in this regard.
The Bitcoin Association is still gathering proof of criminal conduct. All of its members are aggressively collaborating with law enforcement authorities in the impacted regions.
Remembering Illegal Chains and Ecash Reorganizations
According to Coin Dance statistics, the mining Taal controls 47.6% of the BSV hash rate, while unidentified hidden miners control the remaining 27%. Inside the BSV network, Taal is as a trustworthy and cautious miner.
Whereas this piece’s production, the mining firm Taal was ready to grab 15 blocks in a row. Two unlawful chains the hacker generated indeed faced rejection in the previous 12 hours. As per Speirs’ blog article, which also includes evolving developments.
The Bitcoin ABC pro-IFP chain witnessed a large number of reorgs around the end of November 2020, rendering the chain mostly useless. At the moment, a mysterious mining organization known only as Voluntarism.dev generated a large amount of successive blank blocks. This prevented anybody from transacting with the currency that is presently famous as ecash.
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