The digital currency “XVG” of the “Verge” project is one of the well-known cryptocurrencies, as it has been ranked high in terms of total market capitalization, and it is also one of the oldest digital currencies in the market.

This morning, Antoine Le Calvez, a data engineer at blockchain research firm Coin Metrics, pointed out that something funny was happening on the Verge blockchain, writing:

The Verge blockchain appears to have seen a massive rearrangement of more than 560,000 blocks.

His colleague, Lucas Nuzzi, explained:

In a few hours, XVG transactions for the past 200 days have just disappeared.

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This is possibly the deepest rework that ever happened to the Top 100 Cryptocurrency List.

The value of the last 200 days XVG dollars Transaction history just disappeared.

This is possibly the deepest rework that has ever occurred in the “Top 100” cryptocurrency.

– LucasNuzzi (@LucasNuzzi) February 15, 2021

As we were told at the beginning of the news, “Verge” was one of the top 100 cryptocurrencies (currently dropping to 103rd place on coinmarketcap), with a market capitalization of over $380 million.

Project Verge has become the latest victim of a 51% attack.

In a 51% attack, blockchain hackers and attackers gain control of most of the hashing power of the blockchain, as they can then use this power to reorganize the blockchain and replace legitimate blocks with their own with the potential to double spend and exploit the network for their own interests.

Typically, 51% of the highly profitable attacks are on certain types of blockchain.

The Ethereum Classic blockchain has seen several attacks with a 51% increase in the past year.

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The XVG Coin Team explains the details:

The XVG project team says that the above in this article is not what happened.

Whereas, a confirmed message from an official in the official channel of the “XVG” currency on Telegram states:

The official block explorer and sync is now restarted, and [قاعدة البيانات] It looks like some malicious nodes tried some unwanted transaction and failed to achieve their goal of causing a split, that is all the information we currently have.

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The official update is coming soon, stay calm and make sure your cryptocurrency is safe, we will contact the exchanges as soon as we have all the details.

No there was no 51% attack.

The digital currency “XVG” was not affected much by the current events around it, as its value is currently estimated at 0.023, an increase of 2.6% in the last 24 hours.

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Privacy coin “FIRO” formerly known as “XZC” under attack by 51%

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