#Bitcoin #Satoshi #Vision ( #BSV), a Bitcoin fork, was attacked by 51% and more than three malicious chains were created.
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According to the latest information, Bitcoin SV (BSV) was attacked by 51% last night. In the statements made, more than three malicious chains were created due to the attack and several blocks were “reorganized”.
What is 51% Attack?
✅BSV 51% Attack
Lucas Nuzzi, product manager at #CoinMetrics, said on Twitter: “After an attack attempt, a serious hash rate was released today at 11:46 am and the attackers are succeeding. More than a dozen blocks are being rearranged, and up to 3 versions of the chain are mined in ponds at the same time.” used his words.
On the other hand, in response to the attack, the Bitcoin Association stated that node operators should mark the fake chain as “invalid” , allow the node to be returned to the chain supported by honest miners, and “lock the attacker’s chain” .
In addition, at the moment, none of the major cryptocurrency exchanges have yet delisted or stopped trading BSV . But #Huobi, #OKEx, and #Bittrex had removed BSV from their listings last month after a similar attack resulted in an #illegal #block reissue .
✅What is 51% Attack?
The 51% attack , which is a cyber attack , can be defined as a single person or organization taking control of most of the hash rate on any cryptocurrency. The person or organization that carries out this attack and is successful can intervene in the transactions in line with its own will. Therefore, the security of the network is greatly compromised.
According to experts, the biggest effect of 51% attacks is that they allow "double spending" . In addition, other situations that a 51% attack can lead to include creating coins out of nothing or stealing coins from others, although the probability is low.