BSV Suffers 51% Attack: Report

BSV Suffers 51% Attack: Report

Bitcoin SV suffered a 51% attack Tuesday morning, according to an analyst from the crypto intelligence firm CoinMetrics.

  • Around 11.45 a.m. "some serious hashing power" was unleashed on the network, tweeted Lucas Nuzzi, network data product manager at CoinMetrics.
  • The intelligence firm later corroborated his report, tweeting that its blockchain security monitoring tool FARUM saw a 14-block reorg of the network.
  • CoinMetrics said that the attack had ended but that there was still confusion between mining pools.
  • A 51% attack occurs when malicious miners take control of more than 50% of a Proof-of-Work blockchain.
  • The Bitcoin Association recommended that node operators invalidate the fraudulent chain.
  • Bitcoin SV, which was born through a hard fork of Bitcoin Cash, suffered four attacks in July.
  • Source