{"id":10485,"date":"2021-08-04T16:54:06","date_gmt":"2021-08-04T16:54:06","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/bitcoinsv-chain-suffers-51-attack-analyst-claims-bsv-network-experienced-a-100-block-reorg\/"},"modified":"2021-08-04T16:54:06","modified_gmt":"2021-08-04T16:54:06","slug":"bitcoinsv-chain-suffers-51-attack-analyst-claims-bsv-network-experienced-a-100-block-reorg","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/bitcoinsv-chain-suffers-51-attack-analyst-claims-bsv-network-experienced-a-100-block-reorg\/","title":{"rendered":"Bitcoinsv Chain Suffers 51% Attack: Analyst Claims BSV Network Experienced a 100-Block Reorg"},"content":{"rendered":"

Reports show that the Bitcoinsv blockchain suffered from a 51% attack on Tuesday, August 3, 2021, as the founder of Blockchair, Nikita Zhavoronkov explained the network endured a 100 block reorg \u201cwiping out 570k transactions.\u201d <\/strong><\/p>\n

Onchain Observers Witness a Deep Bitcoinsv Reorg<\/h2>\n

The Bitcoinsv (BSV<\/a>) network has been having issues lately following problems<\/a> the protocol saw in mid-July. At that time, 78% of the network was mined by a single entity called Taal and a number of exchange providers halted services. On August 3, the founder of Blockchair, Nikita Zhavoronkov, and numerous onchain observers discovered the BSV<\/a> chain suffered from a deep blockchain reorganization, otherwise known as a reorg.<\/p>\n

Screenshot Blockchair\u2019s Nikita Zhavoronkov shared on August 3, 2021.<\/p>\n

Zhavoronkov tweeted<\/a> about the issue on Tuesday and then clarified that the chain lost 100 blocks. \u201cThe reorg was 100 (!) blocks deep wiping out 570k transactions,\u201d the Blockchair founder said<\/a>. The onchain analysts at Coin Metrics caught the reorg<\/a> as well alongside Lucas Nuzzi who also tweeted<\/a> about the problems BSV<\/a> had on Tuesday.<\/p>\n

\u201cBSV<\/a> is going through a massive 51% attack,\u201d Nuzzi said. \u201cAfter an attempted attack yesterday, some serious hashing power was unleashed today at 11:46AM and attackers are succeeding. Over a dozen blocks are being reorgd & up to 3 versions of the chain being mined simultaneously across pools.\u201d<\/p>\n

Bitcoinsv Group Addresses Situation, Claims It\u2019s Marking \u2018Illegal Chains\u2019<\/h2>\n

A member of the Bitcoin Association (a BSV-related org.), Alex Speirs, published the BSV<\/a> side of the story on August 4. The announcement<\/a> is called a \u201cStatement on August 2021 block re-organisation attack on the Bitcoin SV network.\u201d<\/p>\n

\u201cThe Bitcoin SV network is currently enduring an ongoing series of block re-organisation attacks by a malicious actor attempting to illegally double-spend BSV<\/a> coins,\u201d Speirs wrote on Wednesday. \u201cBitcoin Association believes that this is the same attacker that previously initiated block re-organisation attacks against the BSV<\/a> network on June 24 and July 1, 6 & 9, 2021.\u201d<\/p>\n

According to Speirs, the Bitcoin Association (BSV<\/a>) and the Bitcoin SV Infrastructure Team recommend that node operators \u201cmark illegal chains initiated by the attacker as invalid.\u201d Moreover, Speirs emphasized that the BSV<\/a> association will collect evidence on such matters. Speirs said:<\/p>\n

[The] Bitcoin Association continues to collect evidence of the illegal activity and its representatives are actively working with law enforcement authorities in affected jurisdictions.<\/p>\n

<\/p>\n

2 Illegal Chains, Ecash Reorgs Remembered<\/h2>\n

At the time of writing, data from Coin Dance shows the miner Taal has 47.6% of the BSV<\/a> hashrate and 27% belongs to unknown stealth miners. Taal is considered an honest and protective mining operator within the BSV<\/a> community.<\/p>\n

The mining operator Taal has been able to capture 15 blocks in a row while this article was written. According to the blog post written by Speirs which also contains developing updates: \u201cIn the last 12 hours, two illegal chains created by the attacker have been successfully repelled.\u201d<\/p>\n

At the end of November 2020, the Bitcoin ABC pro-IFP chain, which was nameless at the time, saw a great number of reorgs<\/a> making the chain almost unusable. A mystery mining entity at the time that called itself \u201cVoluntarism.dev\u201d mined a great number of consecutive empty blocks and made it so no one could transact with the coin which is now called \u201cecash<\/a>.\u201d<\/p>\n

What do you think about the problems Bitcoinsv has been facing lately? Let us know what you think about this subject in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nNews, 100 block reorg, 100 blocks, 51%, 51% attack, bitcoinsv, block reorg, Blockchain Reorganization, Blockchair, BSV, Coin Dance, Coin Metrics, Coingeek streaming channel, Hashpower, Hashrate, Liquidity, Lucas Nuzzi, malicious actor, Nikita Zhavoronkov, Reorg, reorganizations, Taal, Taal Pool<\/p>\n","protected":false},"excerpt":{"rendered":"

Reports show that the Bitcoinsv blockchain suffered from a 51% attack on Tuesday, August 3, 2021, as the founder of Blockchair, Nikita Zhavoronkov explained the network endured a 100 block reorg \u201cwiping out 570k transactions.\u201d Onchain Observers Witness a Deep Bitcoinsv Reorg The Bitcoinsv (BSV) network has been having issues lately following problems the protocol…<\/p>\n","protected":false},"author":0,"featured_media":10486,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-10485","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/10485"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=10485"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/10485\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/10486"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=10485"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=10485"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=10485"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}