The Verge Hack (Explained) ⚡ All Details

Hueristic

legendary

Activity: 3836

Merit: 4969

Doomed to see the future and unable to prevent it

Quote from: covfefe_ on June 02, 2018, 11:30:37 PM

A privacy focused token that was badly hacked twice.
Don't know why it still exist? We have a much more decentralized privacy focused coins like monero. Verge should better convert itself to flashy token asking for KYC and utility bill payment receipt within three months from its holders.

Yup, in needs to go Dashes route. It looks like it has been following dashes model all along anyway.

covfefe_

full member

Activity: 935

Merit: 105

A privacy focused token that was badly hacked twice.
Don't know why it still exist? We have a much more decentralized privacy focused coins like monero. Verge should better convert itself to flashy token asking for KYC and utility bill payment receipt within three months from its holders.

Vispilio

legendary

Activity: 2072

Merit: 1618

The OP raises some interesting and controversial points here. While some of his allegations may be false, the fact remains that there is not enough clarity surrounding this issue,

Verge team only mentioned that the claims of a 51% attack were simply FUD, and the price seems unaffected... The protection, security and privacy of cryptocurrencies are an

essential topic, so any project that can provide definitive benefits in these areas will indubitably have a very prosperous future.

Hueristic

legendary

Activity: 3836

Merit: 4969

Doomed to see the future and unable to prevent it

Quote from: Dogedarkdev on May 29, 2018, 09:59:04 PM

most of the information presented here isn't accurate. also bitcoin and ethereum both have had exploits. do your research before calling yourself a crypto journalist Cheesy

Why don't you try quoting this so called inaccurate information and provide accurate info. And why not try adding a reference, just because you know thats how the adults do it.

Xioma

newbie

Activity: 168

Merit: 0

Thanks for the super well put and detailed post.

I didn't know a lot about verge but this really helped clear things up for me.

altsMlk

jr. member

Activity: 154

Merit: 3

Thank you for the article and your effort. This is really helpful. I was wondering how that hacking worked. Im not a verge fan. But wanted to know how and why.

dumplingsandsushi

member

Activity: 476

Merit: 41

Thanks for the detailed write up.
I actually learned a lot.

I really am looking forward to the market growing up and stop pumping money into terrible coins like Verge.
It is one of the biggest signs that investors are greedy, uneducated, and impulsive.

I have enjoyed some crazy 1000% gains through risky trading, and it has been great.
But I would honestly rather have longer term, sustainable profits rather than a quick buck.

My guess is that not much will be learned from verge.
Going forward, this year will most likely still be volatile with opportunists pumping shitcoins like verge.

So my plan is to gradually move most of my value to long term stable companies that will be around a long time.

Powerpuff

hero member

Activity: 839

Merit: 500

The question now is whether this time malleability matter can actually be addressed in Verge as the protocol sort of shuffles through different mining algorithms, creating some complexity, and in its current state creating this money printing bug.

siege3967

jr. member

Activity: 42

Merit: 1

Quote from: Dogedarkdev on May 29, 2018, 09:59:04 PM

most of the information presented here isn't accurate. also bitcoin and ethereum both have had exploits. do your research before calling yourself a crypto journalist Cheesy

Bitcoin and eth didn't have the same attack happen to them after people warned the dev that an attack was imminent even after he applied a "fix". Stop trying to hide that you're a shitty dev and answer tech questions people ask you. You conveniently ignore things that will show people how shit verge is if answered. Please explain why some accounts have negative balances

lazy-physicist

member

Activity: 76

Merit: 10

Quote from: Dogedarkdev on May 29, 2018, 09:59:04 PM

most of the information presented here isn't accurate. also bitcoin and ethereum both have had exploits. do your research before calling yourself a crypto journalist Cheesy

Besides having to explain how seconds work...

Do we need to help you read now too?
"Those who fail to learn from the security holes of the past are doomed to reimplement them"

READ...WHY WONT IT READ.

Dogedarkdev

legendary

Activity: 1708

Merit: 1009

$XVG - The Standard in Crypto as a Currency!

most of the information presented here isn't accurate. also bitcoin and ethereum both have had exploits. do your research before calling yourself a crypto journalist Cheesy

illiki23

sr. member

Activity: 602

Merit: 295

Hail Eris!

This is definitely one of the repercussions of the increasing complexity of this new technology..

So let me get this straight, as it is a little confusing: you can adjust the time stamp and the network will allow it - thus someone was putting a lot of blocks into some previous time window - which resulted in the current window's mining difficulty to be lower in frequency - and thus the next time window will have lowered mining difficulty??? d:

boxalex

member

Activity: 420

Merit: 13

Quote from: siege3967 on May 29, 2018, 07:20:59 PM

Quote from: Hueristic on May 29, 2018, 07:07:59 PM

Quote from: siege3967 on May 29, 2018, 06:59:59 PM

Possible doing spend? Or maybe explorer fuck up? https://verge-blockchain.info/address/D7sbycsrSQpj6AjfjsHPb54fvEzN6JH3fp

Code:

 D7sbycsrSQpj6AjfjsHPb54fvEzN6JH3fp
Total Sent (XVG)	    Total Received (XVG)	         Balance (XVG)
56940.00000000	                  54020.00000000	           -2920.00000000

Idunno, is a negative balance a bad thing?
This crypto stuff is so hard.
I think it's a good time to buy, right?

Strong buy signal. Just sold house to buy more Verge.

Congrats, that one made me really laugh Cheesy

Hueristic

legendary

Activity: 3836

Merit: 4969

Doomed to see the future and unable to prevent it

Quote from: siege3967 on May 29, 2018, 07:20:59 PM

Quote from: Hueristic on May 29, 2018, 07:07:59 PM

Quote from: siege3967 on May 29, 2018, 06:59:59 PM

Possible doing spend? Or maybe explorer fuck up? https://verge-blockchain.info/address/D7sbycsrSQpj6AjfjsHPb54fvEzN6JH3fp

Code:

 D7sbycsrSQpj6AjfjsHPb54fvEzN6JH3fp
Total Sent (XVG)	    Total Received (XVG)	         Balance (XVG)
56940.00000000	                  54020.00000000	           -2920.00000000

Idunno, is a negative balance a bad thing?
This crypto stuff is so hard.
I think it's a good time to buy, right?

Strong buy signal. Just sold house to buy more Verge.

Good Idea, couldn't find it here though. Guess just pr0n.

siege3967

jr. member

Activity: 42

Merit: 1

Quote from: Hueristic on May 29, 2018, 07:07:59 PM

Quote from: siege3967 on May 29, 2018, 06:59:59 PM

Possible doing spend? Or maybe explorer fuck up? https://verge-blockchain.info/address/D7sbycsrSQpj6AjfjsHPb54fvEzN6JH3fp

Code:

 D7sbycsrSQpj6AjfjsHPb54fvEzN6JH3fp
Total Sent (XVG)	    Total Received (XVG)	         Balance (XVG)
56940.00000000	                  54020.00000000	           -2920.00000000

Idunno, is a negative balance a bad thing?
This crypto stuff is so hard.
I think it's a good time to buy, right?

Strong buy signal. Just sold house to buy more Verge.

Hueristic

legendary

Activity: 3836

Merit: 4969

Doomed to see the future and unable to prevent it

Quote from: siege3967 on May 29, 2018, 06:59:59 PM

Possible doing spend? Or maybe explorer fuck up? https://verge-blockchain.info/address/D7sbycsrSQpj6AjfjsHPb54fvEzN6JH3fp

Code:

 D7sbycsrSQpj6AjfjsHPb54fvEzN6JH3fp
Total Sent (XVG)	    Total Received (XVG)	         Balance (XVG)
56940.00000000	                  54020.00000000	           -2920.00000000

Idunno, is a negative balance a bad thing?
This crypto stuff is so hard.
I think it's a good time to buy, right?

siege3967

jr. member

Activity: 42

Merit: 1

Possible doing spend? Or maybe explorer fuck up? https://verge-blockchain.info/address/D7sbycsrSQpj6AjfjsHPb54fvEzN6JH3fp

Hueristic

legendary

Activity: 3836

Merit: 4969

Doomed to see the future and unable to prevent it

Quote

After a rough few days, the core developers deployed some quick bug-fixes, which may or may not have had mistakes embedded in them, and the network eventually underwent a hard fork, which may or not have initially been an accident.

Ha, Verge Devs are the joke of the scene, Spin this shit any way you want it all boils down to the fact they have no clue.

david0ikari

member

Activity: 280

Merit: 20

Well, I am really surprise Verge can be hacked ( not that easily ) . I saw so many article about it with no clue if it was true or not

AndrewBrown

newbie

Activity: 251

Merit: 0

Glad that I got to read something that offers so much insight into the verge hack. It had me worried that if verge could be hacked twice in two months then other altcoin projects are not safe either. They should start upping their security from all angles

Topic: The Verge Hack (Explained) ⚡ All Details (Read 212 times)