This College Freshman Is Out to 51% Attack Your Cryptocurrency
A young crypto enthusiast is 51% attacking cryptocurrencies – not to steal coins – but to show people these coins are vulnerable and over-valued.
The suggestion to reverse transactions on the bitcoin blockchain has caused an uproar on social media with several community members espousing such an idea is not only infeasible but reckless.
As the global pool of hashing power grows more liquid, arbitrageurs may see a financial incentive in "rent-a-miner" attacks.
Vertcoin, a crypto project that sets out to keep mining power decentralized, has suffered its second 51-percent attack in a year.
If a permissionless blockchain doesn’t have a large enough community of users, developers and miners, its vulnerable, writes Michael J. Casey.
Cryptocurrency exchange Gate.io said Saturday that $100,000 in ethereum classic has been returned following a recent 51-percent attack.