Verge Currency: An Accidental Hard Fork in Response to 51% Network Attack

The privacy-focused cryptocurrency Verge declared via its official Twitter account  that it had been subject to hash hack earlier this morning. Based on the tweet, the network hack endured for about 3 hours.

A user nicknamed ‘OCminer’ was the first to discover the attack and simultaneously with the act he added a post on BitcoinTalk warning the Verge community. He documented every bit of the malicious miner actions. According to his examination, the hacker was able to mine one block per second. Soon after the OCminer’s post, the hacker stopped his pool.

What  exactly had happened?

Verge currency (XVG) is famed for its ability to mine each block with different algorithm. Add to that, the protocol will not confirm a current algorithm unless the previous one is successfully checked. Also, there are several bugs in XVG code. Hence, the hacker trick was submitting a mined block with false timestamp. By doing so, the system receive mistime signals as a result,  it goes to memory that the last mined block is mined over an hour ago.

With more than 51% attacks, Verge described the hostile action as “ a small hash attack”. And in response to the the damage control, Verge developers “pushed a quick fix” as Dogedarkdev claimed.The “fix” failed to meet users requirements. Consequently the Verge team considers now to do a full fork update. Verge community explained this as an accidental hard fork.

An important note, a fake twitter account is attaching a link in the comments below the Verge currency post. The link is a scam that makes users believe that it is a gieveaway from the company.


Meryam Taghouti

I'm a BBA graduate from Tunis Business School, My passion for the Blockchain Technology and cryptocurrencies has led me to research and write about the crypto world.

Leave a Reply

Your email address will not be published. Required fields are marked *

join our Telegram Channel