Codebase Verge seriously flawed, but the developers do nothing to improve it, in addition to partnership with Pornhub. This time, the attacker uses two algorithms instead of one and generates millions.
The blockchain Verge attack occurred 51% who used a bug in the code.
Usually for successful storage blocks XVG each “next” block must have a different algorithm, for example scrypt, X17, Lyra and so on. Due to several errors in the code XVG attackers could use this feature by modifying the time stamps of the blocks to cause confusion in the network and add to the blockchain own blocks.
When the transfer unit is installed about the time stamp with a difference of 1 hour. In this case, XVG “thinks” that the last block in this algorithm was released an hour ago. Your next unit will have the correct timestamp… since it’s been an hour (at least, so says the net), it [the network] will allow you to add this unit in the main chain explains user forum BitcoinTalk under the pseudonym ocminer.
For one block, the attacker has received approximately USD 78 and thus “Sarasota” about 280.800 USD per hour.
Verge was founded in 2014 and was originally called DogeCoinDark, but in 2016 it was decided to rename the coin in the Verge of a Currency.
Verge (XVG) is a decentralized cryptocurrency and open source, which offers anonymous transactions, confusing IP address and geographic location of its users, using technologies such as Tor and I2P. At the end of December 2017 on the Verge price soared from $ 0.01 to $ 0,28 in just a several days.
The inaction and irresponsibility of developers, which led to the repeated attack of 51% can be very costly Verge. Clearly the news about the inability of the developers to eliminate the security hole will affect the course of the coin.