The network of cryptocurrency Vertcoin was subjected to an unsuccessful attack 51%

Sunday, December 1, cryptocurrency Vertcoin was attacked by 51%, however, it appeared to the organizers not entirely successful – the cost of its implementation is clearly not paid off.

Of the failed attempt to carry out an attack on the network announced a leading developer of Vertcoin James Lovejoy.

According to him, 30 November, the marketplace of computing power Nicehash was seen a substantial increase in leasing costs for the Vertcoin algorithm Lyra2REv3. And on December 1, an unknown attacker removed 603 unit of the core network Vertcoin, replacing their own 553 units.

However, not all the organiser of the attack went smoothly.

«On the basis of market prices at the time of preparation to attack and complexity produced by the attacker blocks, we estimate it costs 0.5 – 1 BTC. The total amount of awards received for the units was 13 825 VTC (0,44 BTC)», writes James Lovejoy.

As I said the developer, the motives of the attack remain unclear to him.

He also noted that after he contacted Bittrex, where is the main trade coins VTC, the exchange has disabled their wallets.

«Taking into account the fact that the reorganization is not deeper than 600 blocks (Bittrex requirement on the number of confirmations for enrollment deposits VTC), we can assume that the original purpose was just Bittrex. However, the possibility of double-spending was eliminated, as Bittrex has disabled their purses before might be a fork», wrote Lovejoy.

He also did not rule out that the intruder initially did not aim to carry out double-spending by the attack to verify the stability of the network or sabotage.

Recall cryptocurrency Vertcoin is a fork of bitcoin and exist 2014. Today, it is 194 th place in the ranking of CoinMarketCap, falling last night in price by more than 7% to $0,235 per coin.

Also this is not the first attack 51% on Vertcoin – the previous incident happened in December 2018.


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