Crypto Exchanges Increasingly Becoming Wary Of Bitcoin SV Following String Of Attacks On The Network

Crypto Exchanges Increasingly Becoming Wary Of Bitcoin SV Following String Of Attacks On The Network
фото показано с : zycrypto.com

2021-8-5 23:30

Bitcoin SV’s price was shaken briefly as its community continued to digest the news that the cryptocurrency suffered a 51% breach. Following the news of the attack on the network, Coinbase stopped trading the cryptocurrency on the exchange platform. 

BSVUSD Chart by TradingView

Coinbase, which listed BSV only a few months ago, announced suspending the trading on the website today. Although Coinbase has halted transactions, Gravity – a Bitcoin SV-centric cryptocurrency exchange, is yet to halt the transactions. It instead announced on Twitter today that it would continue processing transactions while monitoring the situation.

A quick check on other exchanges on which the cryptocurrency is listed for trading revealed that trading was going on normally. Huobi also announced on Twitter today that they had no safety issues for its users to worry about regarding the reported BSV vulnerabilities. 

“We are proud to be the only exchange unaffected from attacks. Risk control measures have been preemptively prepared months ago and tech infrastructure strengthened to protect users.”

Trading also appears to be going on normally on Kucoin, which is probably the largest market for BSV trading. 

Hackers had tried to breach Bitcoin BSV (Bitcoin Satoshi Vision) yesterday and then unleashed a massive hashing power to successfully overwhelm the network today. It is the second time the BSV network is experiencing a double-spending attack in a month. It was reported that some blocks have already been reorganized and mining was taking place on three versions of the blockchain when the attack started. 

“The Bitcoin SV network is currently enduring a series of block-reorganization attacks by a malicious actor attempting to illegally double-spend BSV coins,” wrote Bitcoin Association, which manages the Bitcoin SV network. 

A 51% attack is carried out by miners attempting to overwhelm the network to reorganize transaction records, and it is done to attempt double-spending of coins and lower their value. 

The attacks again sparked the debates about tough competition between the Bitcoin and Bitcoin SV networks with some people attributing the breach to people who were against the recent advancements in the BSV network, for instance, increased transactional volume and block size. On July 16, the Bitcoin SV fee/block reward ratio surpassed that of BTC for the first time in history, in what some saw as an achievement on the network.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 69867.81 (-0.13%)
Объем 24H $36.076b
Изменеия 24h: -1.51 %, 7d: 9.59 %
Cегодня L: $69321.3 - H: $70311.19
Капитализация $1376.525b Rank 1
Цена в час новости $ 39799.3 (75.55%)

following network cryptocurrency bitcoin digest suffered attack

Источник: zycrypto.com

following network → Результатов: 126


Shopify Joins Facebook-led Libra Association To Help Build Stablecoin Payment Network

E-commerce platform Shopify has announced that it has joined the Libra Association. This means that the online shopping firm is the latest entrant of the Facebook-led stablecoin project. The entry of Shopify into the association comes barely a month following Vodafone’s pull out with the aim of developing its solo virtual payments platform. This marks […]

2020-2-22 20:48


Stellar Lumen’s Inflation Scheme Shows Failures in Token Model

In a January 7, 2020, report from Coinmetrics, analyst Antoine Le Calvez revealed several supply and distribution failures within the Stellar Lumens network. Specifically, who really profited from the monetary inflation process? Failed Tokenomy, but not Scandalous Stellar Lumens was first launched in July 2014 following the second wave of major cryptocurrency projects including Monero, […] The post Stellar Lumen’s Inflation Scheme Shows Failures in Token Model appeared first on Crypto Briefing.

2020-1-8 12:32


tap, the First One-Stop-Shop Crypto App Lists on Bittrex on 23rd Dec

Following the app release, an in-principle DLT approval by the Gibraltar Financial Services Commission and an acceptance onto the STP network, tap’s token (XTP) is to become available on the Bittrex platform tap is a one-stop-shop crypto app that includes an aggregated crypto exchange (spanning several exchanges to deliver optimum prices), safe crypto storage through.

2019-12-23 06:41


Canadian crypto ATM network Instacoin adds support for 7 stablecoins

Instacoin, a Canadain cryptocurrency ATM operator, today announced that its users can now buy and sell stablecoins across its network. The following seven new coins are now available at all Instacoin ATM locations across Canada: DAI (Multi-Collateral DAI), SAI (Single-Collateral DAI), Tether (USDT), USD Coin (USDC), Paxos Standard (PAX), TrueUSD (TUSD) and Gemini Dollar (GUSD).

2019-12-11 18:36


Фото:

Tron and Poloniex Relationship Scrutinized After Digibyte Delisting

The crypto firm Circle recently revealed that it was spinning off the trading platform Poloniex and has since warned customers to withdraw assets or they may be sent to state governments. Following the announcement, the founder of the crypto network Digibyte (DGB), Jared Tate, explained he was extremely upset that his friend’s and family’s sensitive […] The post Tron and Poloniex Relationship Scrutinized After Digibyte Delisting appeared first on Bitcoin News.

2019-12-6 05:00


3 Crypto Companies Fail to Meet SEC-Set Refund Deadlines For $40 Million Collectively Raised at an ICO

Following charges by the Security Exchange Commission, three Crypto startup companies Airfox, Paragon Coin Inc. , and Gladius Network LLC, which collectively raised $40 million from investors during the Initial Coin Offering in 2017 have breached the agreement by not meeting the repayment deadlines.

2019-11-16 17:52


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Dogwifhat and Popcat sell-off as whale dumps tokens

Dogwifhat (WIF) price was down 11% on the day as top meme coins struggled. The Popcat (POPCAT) token also traded lower, falling by 20% in 24 hours. A whale has dumped both WIF and POPCAT tokens at a loss.

US arrests two Chinese nationals in $73 million crypto scam

US authorities arrested Daren Li and Yicheng Zhang in connection with a $73 million money laundering scheme. The defendants laundered the money via US and international bank accounts. Proceeds of the investment scam were converted to the USDT stablecoin.

Bitcoin price: Here’s why QCP Capital expects BTC run to $74k

Bitcoin surges past $66k after US CPI data triggers buyside pressure Here’s why QCP Capital analysts say BTC could run to $74k Bitcoin price surged past the $66,000 mark on Thursday to hit highs last seen in April amid a fresh dose of bullish sentiment.