Bitcoin SV Network Under Attack Another 51%… Will Trading Platforms Delete It Now?
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Answer Bitcoin SV Network Under Attack Another 51%… Will Trading Platforms Delete It Now?
The Bitcoin SV blockchain suffered another massive attack of 51% late Tuesday.
Where an unknown entity was able to undo and change transactions.
The attackers managed to create three main network shadow networks and mined them together simultaneously.
A 51% attack was detected after the “CoinMetric” analytics platform discovered it during its regular monitoring.
FARUM identified a 51% attack today on the BSV network at approximately 11:45 AM EST.
– CoinMetrics.io (coinmetrics) August 3, 2021
Lucas Nuzzi, Product Manager at Coin Metrics, highlighted that the attack was launched on the network at 11:45 am EST, and the attackers managed to fraudulently rearrange dozens of blocks in the network, and stated:
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After yesterday’s attack attempt, some hashing force was released at 11:46 am and the attackers succeeded.
More than ten blocks have been reworked and up to 3 versions of the network have been extracted simultaneously.
The BSV network has been the subject of controversy since its first inception in 2018 during the Bitcoin Cash (BCH) split.
The BSV blockchain network led by the controversial crypto personality Craig Wright has been vulnerable to 51% attacks for a long time due to the lack of developments and updates on the network.
Will BSV’s relationship with cryptocurrency exchanges end?
Several cryptocurrency exchanges have warned that they will remove BSV from their platform due to its centralized nature and 51% vulnerability to attack.
Now that the network has undergone a major attack what makes the wallets of the trading platform at risk.
So the major trading platforms may go ahead and remove the altcoin completely from their lists.
Earlier, Huobi, Okex and Bittrex suspended BSV transactions from their platform when the network was hit by another attack last month.
It is also worth noting that several major exchanges delisted BSV two years ago due to Craig Wright’s antics, as he tried to bully Bitcoin supporters by filing a lawsuit against anyone who opposes his claim to be “Satoshi Nakamoto.”
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Several cryptocurrency exchanges then reversed the delisting decision and listed them again after the issue was resolved.
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