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Verge [XVG] attack strives deeper than mere hacks

Sarah Rodrigues

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VERGE [XVG] attack strives deeper than mere hacks.
Source: Pexels

This might seem like a movie sequel for the lay-readers but a nightmare for the investors of Verge [XVG] and the cryptocurrency market. There have been two serious attacks on Verge in the past month.

Initially, it was revealed it was a mere DDOS attack but it dwelled much deeper than that. The attack on the Verge network [XVG] exploited 35 million Verge [XVG] coins with the help of a multi-algorithm approach to mining. This second hack has taken on a 51% of the Verge technology since April 2018. The affected blocks appear to be between 2155850 and 2206272 blocks absconding $1.75 million at the current exchange.

The attack has been confronted and stopped at present, the Verge [XVG] team development has responded to this major cyber issue with a tweet.

Verge Currency's Tweet.

Verge Currency’s Tweet

In response to the second Verge [XVG] hack, Charlie Lee, creator of Litecoin [LTC] and the managing director of the Litecoin Foundation, in a tweet says:

“Verge mining is being exploited again. Someone has 51% attacked and taken over the Verge network again. PornHub transactions are being reversed! 😂”

Verge Coin replied to Charlie Lee:

“Real smart bashing Vergecurrency who is partnered w/ a company that might have an NDA with you that is partnered with XVG.”

For which Mr Lee responded:

“First of all, I’m not bashing Verge. Just commenting on an attack that’s going on. Secondly, we could partner with TolenPay or even Verge in the future. I’m not going to hold back and not speak the truth even if the Litecoin Foundation has a partnership.”

Another user on Twitter adds to the crypto drama with a reply to the comments but mainly to Verge [XVG], Daniel Goldman questioned:

“Seriously? So since he has three degrees of separation from you he’s not even allowed to talk about the fact that you got hacked (twice)? That’s how you want to handle this?”

24-hour graph value.

24-hour graph value.

After the recent attack on Verge [XVG], the market has dropped down to 13.97% in the last 24-hours and 2.23% in the past hour. Verge [XVG] is currently trading at $0.0451 with a market capital value of over $677 million.





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Sarah Rodrigues is an intern at AMBCrypto. She is pursuing her English lit, Psychology and Journalism at St. Joseph's College. She researches extensively and writes about Cryptocurrency and Artificial Intelligence. Sarah currently does not hold any value in cryptocurrency.

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