Community post
#Verge and #Electronium hit with 51% attacks , Bugs in code, programming exploit
Recently , The crypto currency Electronium, and more recently, Verge have been in the news for being attacked with what is called a "51% attack".
Which is where someone, or entity is controlling 51% or more of the mining hash power. Making what was once decentralized into a centralized network in the blockchain, with an untrustworthy controller. They can pretty much do what they wish at this point. Double spend coins, create empty blocks, etc. In verges case, 250,000+ coins were deemed to be stolen by the attacker, floating into several wallet addresses.
This is a crypto currencys worst nightmare to have this happen, as it could be detrimental to the infant currency.
Verge has sense patched the exploit bug of it's source code, and downplayed the incident as a minor flaw in their source which made it easier for the attacker to implement the attack. There should be an impending fork for verge.
It may not have been such a small bump in the road for electronium, which was already "rekt", price wise.
Electronium is a fork of monero currency, which i think was due to ASiC mining hardware.(same issue)
What do you think this means for Verge and Electronium?
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