Bitcoin, Crypto currency, Blockchain

Hackers took advantage of (once again) and Verge security gaps to steal about $ 1.7 million

d767d1e925cd6f74e6c83203852f9554 - Hackers took advantage of (once again) and Verge security gaps to steal about $ 1.7 million

Verge, known as a Cryptocurrency, anonymity, privacy and security promises, was once again the victim of a so-called 51% Hack.

Own Hack, on the other day

Only a day after the announcement of a new partnership with the medical company DIOXYME, through which the users can pay their bills with the Verge, lost the currency 35 million coins, which corresponds to approximately 1.7 million dollars.

According to TNW, the recent attack in April was discovered by a user named ‘Ocminer’, bitcointalk.org . The Hacker took advantage of vulnerabilities in the Verges of Code to steal the 1.7 million dollars in a short period of time and a large number of blocks to reduce.

In fact, the company called the April attack, a “small Hash-attack” on Twitter, which is also a “51% attack” on it, which at the Moment 22% of Verges lose value. Nevertheless, Verge alternates between five completely different cryptographic platforms for each new mined Block.

In both attacks the hackers have found a way to change the time stamp, and as a result, the mining capacity with less computing power.

It is interesting to note that the Verge has performed as a reaction to the recent attack of a Hard Fork, however, the Problem responsible for this vulnerability is not fixed.

Since the first attack Verge focused on, to achieve a majority sale of tokens to the value of 2 million US dollars, while it moves towards signing of a partnership contract with mindgeek, including the Brazzers and Pornhub,. An Initiative was launched by Verge, in order to convince the Online music giant Spotify, the privacy-based to integrate crypto-currency.

Unfortunate events for the anonymous crypto-currency

Verge has been located since March in a bit of a crisis, as the Twitter Account of the project was hacked and a scammer on the official Account promised users that he would double their money if the user can transfer him money first.

This was brought to the scammers around 7 million dollars. Furthermore, there are rumors that the IP addresses of the users of the network could be a weak point.

According to coinmarketcap.com XVG has been listed on Bitfinex, this did not seem to affect the price of the currency.

Leave a Comment