cryptopotato.com
Bitcoin SV, the blockchain created as a fork of Bitcoin Cash and promoted mainly by entrepreneurs Calvin Ayre and Craig Wright, has just suffered another 51% attack, further weakening its already tarnished reputation in the cryptocurrency space.
This attack follows a similar chain reorg orchestrated by ZuluPool last month.
The report was initially shared by Lucas Nuzzi, an active member of the Crypto Twitter community and part of the team at data analytics platform CoinMetrics.
According to the briefing, a group of miners initiated a chain reorganization at 11:46AM on August 3, 2021, managing to create 3 different versions of the blockchain, which were being mined at the same time by different mining pools.
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
The attack continued for about 12 hours, achieving a reorganization of about 14 blocks. This is, of course, catastrophic for the trustworthiness of the blockchain, which depends precisely on its immutability to guarantee its value and prestige among its users.
Not surprisingly, the attack had an impact on the prices of the BSV coin. The coin was bearish already but the bad news only accelerated the fall.
BSV lost nearly 7% in the last 24 hours, hitting a low of $133.83 before briefly recovering to its current $137