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BTC $43323.00 (-8.6%)
ETH $3002.46 (-10.%)
USDT $1.00 (-0.0%)
BCH $543.35 (-11.%)
BSV $140.17 (-14.%)
LTC $157.71 (-11.%)
BNB $364.68 (-10.%)
ADA $2.06 (-11.%)
DOGE $0.20 (-12.%)

Bitcoin SV Suffers Another 51% Attack

Bitcoin SV Suffers Another 51% Attack
  • 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.

 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.

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Collins Adane is a writer who follows the crypto industry closely. He loves fish stew and Real Madrid. He believes in cryptocurrency’s potential to transform the money landscape in his native country Ghana.