According to CCN, there was a recent attack that resulted in a malicious miner gaining temporary control of Bitcoin Gold hashing power. Thus, the miner gained control of the Bitcoin Gold register.
During the time the miner controlled the blockchain, he managed to obtain $18.6 million in BTG tokens through the so-called “double spending.”
After the attacker gained control of the network, he began depositing BTG to crypto exchanges, while at the same time trying to send the same tokens to his own wallets. Typically, a blockchain only automatically includes the first transaction in a block, but in this case, the hackers had full control of the network and were able to bypass the restrictions.
Consequently, they could fund their accounts on exchanges and quickly withdraw them back, after which the hackers could cancel the original transaction and move the same funds that they deposited into the exchange accounts into personal wallets.
Bitcoin Gold currently ranks 26th in the table of the largest cryptocurrencies. Its market capitalization is approximately $827 million.
According to https://www.fastcompany.com
You May Also Like
Litecoin trading on Gemini will begin tomorrow
In a series of high-profile listings, bonus digital asset exchange Gemini will add support for Litecoin (LTC). The listing will likely help improve LTC's image and make it more accessible to a wider range of investors.
The new LUNA network will be launched on May 27
On May 27, the Terra 2 main network will be launched. New coins will be distributed among LUNA holders in several stages.
