Bitcoin SV shocked the crypto community when it was attacked by a 51% attack or 51% attack last night local time.
The attack was identified by risk management platform, FARUM and found a 51% attack resulted in 14 blocks being rearranged and three versions of the chain being mined simultaneously.
BSV is going through a massive 51% attack.
After an attempted attack yesterday, some serious hashing power was unleashed today at 11:46 AM 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
Reportedly over 3 hours the entire BSV ecosystem was controlled by invaders. Coin Metrics network data product manager Lucas Nuzzi described the attack as aimed at destroying BSV.
The organization that supports the development of BSV, Bitcoin Adoption at the same time urges all node operators to mark the ‘fraudulent’ chain as ‘invalid’. Only in this way, the node can be returned to the actual chain and get rid of the chain created by the intruder.
As of the time this article is written, it has yet to be confirmed whether the attack is over or the intruder is temporarily resilient.
Bitcoin SV or known as Bitcoin Satoshi Vision is a product to the hard fork Bitcoin Cash (BCH) in November 2018. There is no difference between the monetary policies of BSV, BCH and Bitcoin (BTC) except, these three are ‘separated’ due to differences of opinion in the Bitcoin community Cash related recommendations to make transactions more efficient.
To date, BSV is still known as one of the largest blockchains in terms of monetary value. With its market value in excess of $ 2.6 billion, BSV ranks 40th on CoinMarketCap.
At the time of writing, BSV is trading at $ 138.53, down nearly 4% in 24 hours. The asset was down nearly 72% from an all -time high (ATH), $ 491.64 recorded last April.
