Back to the list

Attempted 51% Attack on Bitcoin Gold Was Thwarted, Developers Say

www.coindesk.com 11 July 2020 10:00, UTC
Reading time: ~1 m

Bitcoin gold’s developer team announced late Friday night that it foiled a 51 percent attack that it had known was coming for over a week.

  • Bitcoin gold alerted exchanges and mining pools of the attack on July 2, and posted a notice to the community on July 10 noting that it was time for "everyone else to upgrade their nodes."
  • The team only revealed the attempted network takeover to the public after the unknown attacker, which had been mining blocks since July 1, released 1300 blocks late Friday night.
  • Developers had circulated an update that featured a checkpoint at block 640650 on July 2. That checkpoint prevented the attacker’s chain from taking over the honest chain, they said Friday.
  • “The majority of honest pool hashpower continues to mine on the honest chain,” developer CryptoDJ said in the post. 
  • According to the cryptocurrency's official website, there are only 108 bitcoin gold nodes in the world. Nearly 30% of them are in Germany. 
  • The price seems to have been unaffected by the attempted attack, trading between $9 and $10 since Tuesday, according to Bitfinex

Back to the list

Similar news
Suggest news