XVG-A Privacy-focused cryptocurrency Verge (XVG) suffered a 560,000-blockchain reorganization as a consequence of a successful 51 percent attack this Monday.
Lucas Nuzzi of CoinMetrics, tweeted “The past 200 days worth of $XVG transaction history just vanished. This is likely the deepest reorg that has ever taken place in a “top 100″ cryptocurrency.”
The past 200 days worth of $XVG transaction history just vanished.
This is likely the deepest reorg that has ever taken place in a "top 100" cryptocurrency. https://t.co/ItFNBVZqbp
— Lucas Nuzzi (@LucasNuzzi) February 15, 2021
The Incident was first reported by a user on twitter
Looks like $XVG (Verge) experienced a massive 560k+ blocks reorg.@coinmetrics' node is on a new chain whose last common ancestor with the previous chain dates to July 2020.
— Antoine Le Calvez (@khannib) February 15, 2021
Charlie Lee, the founder of the token litecoin also commented on the incident
20/ Verge (XVG) just got 51% attacked. Always be wary of coins that are highly NiceHash-able. When there’s no upfront cost, the incremental cost can be quite cheap. And it would be easy to do a 51% attack and re-org the chain.https://t.co/hOIHUl3AN6 pic.twitter.com/RRUbdNlGNP
— Charlie Lee [LTC⚡] (@SatoshiLite) February 15, 2021
Bittrex has put XVG wallets on maintenance mode. We are unsure of the reason yet
The XVG wallet on https://t.co/0PDjOUdZZP and the Bittrex Mobile App is currently in maintenance. For updates, check https://t.co/7a4JBja7qv
Details: https://t.co/BhKs5jFVc3
— Bittrex (@BittrexExchange) February 15, 2021
Verge Currency is a decentralized open-source cryptocurrency which offers various levels of private transactions. It does this by obfuscating the IP addresses of users with Tor and by leveraging stealth transactions making it difficult to determine the geolocation of its users.
Verge Current gained popularity back in April 2018 when it became the very first cryptocurrency that was adopted by Pornhub.
We are yet to see an official statement from XVG team
How will the crypto market react to this whole incident?
Join Our Telegram Channel For Faster Updates
