Bitcoin SV Suffered Another 51 Percent Attack!

Bitcoin SV suffered another 51 percent attack! All operations were halted as a result of the attack.

Bitcoin SV (BSV), one of Bitcoin's Cash hard forks, especially supported by those who defend Craig Wright's front; has just suffered another %51 attack. It turned out that the attack, which was reported to have been carried out on Tuesday, was not actually the first and that there have been 5 similar attempts since June. According to the information transmitted by FARUM nodes, there was no attempt to reorganize the network in this attack, which affected a total of 14 blocks. A 51 percent attack happens when miners capture more than 51 percent of the hashrate on a blockchain network. Of course, this only applies to Proof-of-Work based networks. As a result of a single institution controlling 51 percent hashrate, this institution or group can generate their own block or invalidate transactions as they wish.

Exchanges Stopped Trading

Previously, projects such as Ethereum Classic and Grin were attacked via same method. Although it is not yet known how much loss was incurred in the 51 percent attack on Bitcoin SV, many exchanges stopped BSV transactions. BSV, which emerged with the hard fork in the Bitcoin Cash network with the pressures of Craig Wright, has actually been on the agenda of the community for a long time. The most notable event of BSV was that Binance delisted BSV after one of the community was threatened by Craig Wright.