Topic: Verge Cryptocurrency Suffers Its Second Hack in Less Than Two Months (Read 91 times)
It does look like verge is taking quite a hit. You want to tell me that after the first hack that the developers of the coin did not think to fortify the project more against more hack attempts? Were they thinking that since they have already being hacked once that the hackers would not want to hack them again? They need to get up and start working on better security on their project else it is destined for destruction.
May 22, 2018, 08:46:55 PM
Verge is a shining example of all that is wrong in our crypto currency market.
First, the devs around it have shown more incompetence than competence.
When last hack occured, rather than fixing their code they decided to hardfork because, "Hey! That's what ethereum did!"
Now, the exact SAME type of hack occured because they didn't fix anything.
It's like a person who suffers from mental disorders trying to fix their problems by moving to a different city.
Different city, YAY! But all you did was bring your mental disorders into a new environment.
Second, the rise of VERGE is SO EMBARASSINGly cringeworthy.
It was flat, dead, for many years actually.
Then McAfee tweets about it and it shoots straight to the moon.
Despite there being so many superior privacy coins, despite the many problems with it, it has still managed to stay in the top 50 since then.
This shows that speculative "investors" don't think twice before pumping money into something that is worthless.
It's absolutely crazy.
First, the devs around it have shown more incompetence than competence.
When last hack occured, rather than fixing their code they decided to hardfork because, "Hey! That's what ethereum did!"
Now, the exact SAME type of hack occured because they didn't fix anything.
It's like a person who suffers from mental disorders trying to fix their problems by moving to a different city.
Different city, YAY! But all you did was bring your mental disorders into a new environment.
Second, the rise of VERGE is SO EMBARASSINGly cringeworthy.
It was flat, dead, for many years actually.
Then McAfee tweets about it and it shoots straight to the moon.
Despite there being so many superior privacy coins, despite the many problems with it, it has still managed to stay in the top 50 since then.
This shows that speculative "investors" don't think twice before pumping money into something that is worthless.
It's absolutely crazy.
May 22, 2018, 08:18:57 PM
@jlanzago. Yes, it is very bad. After the cryptospace news media made Verge appear as the best anonymous coin, this transpires.
Sometimes you must question how corrupt the people behind the cryptospace news media are. Are those authors who pumped Verge in reality paid shills?
Sometimes you must question how corrupt the people behind the cryptospace news media are. Are those authors who pumped Verge in reality paid shills?
May 22, 2018, 07:59:58 PM
Yes, this is unfortunate but definitely a design flaw in their system. I do not have Verge in my crypto portfolio, for good reasons. Have managed to stay away from that, and not to FOMO as opposed to other people who follow the crowd blindly.
May 22, 2018, 07:56:06 PM
Bad news again for the Vergins. This will be another stain on the reputation of the project. One that might take a long time to clean up.
Now the hackers have unlimited access to premium content in Pornhub hehehe.
Cryptocurrency Verge has suffered what executives are claiming is a DDoS attack. The platform is experiencing a serious delay in its blockchain, which has led to security concerns amongst users and worries about the currency’s stability.
At press time, Verge is trading for roughly $0.052, and its market cap value sits at $785 million. A decrease in the currency’s price has occurred over the last hour, docking Verge down by 0.36 percent, while the coin has fallen by nearly 7 percent over the last 24 hours. Currently, Verge is the world’s 31st largest cryptocurrency per CoinMarketCap.com.
Verge first mentioned the attack in a Twitter post, explaining:
“It appears some mining pools are under DDoS attack, and we are experiencing a delay in our blocks. We are working to resolve this.”
The problem may be more serious than the company is implying, however. The attack lasted more than a few hours and has resulted in over 35 million XVGs (worth approximately $1.7 million) being stolen.
The theft occurred when hackers exploited a specific glitch in Verge’s technology by mining multiple blocks virtually one second apart using the same algorithm. This was the same tactic used in a hack just last month that saw over 250,000 XVGs disappear into thin air, forcing Verge to prepare a subsequent hard fork.
Read the full article https://bitcoinmagazine.com/articles/verge-cryptocurrency-suffers-its-second-hack-less-two-months/
Now the hackers have unlimited access to premium content in Pornhub hehehe.
Cryptocurrency Verge has suffered what executives are claiming is a DDoS attack. The platform is experiencing a serious delay in its blockchain, which has led to security concerns amongst users and worries about the currency’s stability.
At press time, Verge is trading for roughly $0.052, and its market cap value sits at $785 million. A decrease in the currency’s price has occurred over the last hour, docking Verge down by 0.36 percent, while the coin has fallen by nearly 7 percent over the last 24 hours. Currently, Verge is the world’s 31st largest cryptocurrency per CoinMarketCap.com.
Verge first mentioned the attack in a Twitter post, explaining:
“It appears some mining pools are under DDoS attack, and we are experiencing a delay in our blocks. We are working to resolve this.”
The problem may be more serious than the company is implying, however. The attack lasted more than a few hours and has resulted in over 35 million XVGs (worth approximately $1.7 million) being stolen.
The theft occurred when hackers exploited a specific glitch in Verge’s technology by mining multiple blocks virtually one second apart using the same algorithm. This was the same tactic used in a hack just last month that saw over 250,000 XVGs disappear into thin air, forcing Verge to prepare a subsequent hard fork.
Read the full article https://bitcoinmagazine.com/articles/verge-cryptocurrency-suffers-its-second-hack-less-two-months/
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