- Bitcoin SV has suffered another 51% attack.
- The attack lasted for a minimum of 12 hours.
- This aided the attackers to achieve a reorganization of almost 14 blocks.
Bitcoin SV, better known as “Bitcoin Satoshi Vision”, has suffered another massive 51% attack. Based on the latest reports, the unfortunate event is further giving a negative reputation towards Bitcoin SV in the crypto space and its environs.
The report of the attack was first shared by Lucas Nuzzi, a Network Data Product Manager at CoinMetrics, on his Twitter.
BSV is going through a massive 51% attack.
After an attempted attack yesterday, some serious hashing power was unleashed today at 11:46AM and attackers are succeeding.
Over a dozen blocks are being reorgd & up to 3 versions of the chain being mined simultaneously across pools.
— Lucas Nuzzi (@LucasNuzzi) August 3, 2021
As per him, several different miners started and executed a chain reorganization act specifically on August 3, 2021. In doing this, the miners strived to create almost 3 different versions of the same blockchain which were, in turn, mined simultaneously by different mining pools.
The Bitcoin SV’s 51% attack eventually lasted for a period of 12 hours. This was enough time to let the attackers successfully achieve a reorganization of almost 14 blocks. In fact, this unusual event appears to have caused mass destruction in users’ trust in the blockchain.
Precisely, the unforeseen attack had a very negative impact on BSV price. Meanwhile, the BSV price was already bearish at the time before the attack came. Notably, the attack never affected BSV coin price heavily; rather, it only accelerated the fall.
Furthermore, the Bitcoin Association, one of the Pro-BSV crypto Twitter entities even reported the fraudulent attack and told Twitter to set a command to invalidate attackers’ blocks.
To invalidate the fraudulent chain, node operators should run the following command on their #BitcoinSV node: bitcoin-cli invalidateblock 000000000000000003B67AEC95E9B5DA897EB5EBF3227D5A6A67835104367840 Please reach out on Twitter with any questions for the BA team.