Bitcoin Gold target of double-spend attack

Posted 24 May, 2018

Last week, an unknown malicious miner successfully released so-called 51% attack on Bitcoin Gold.

According to the news reports, the spokesperson of the network warned about a double-spent threat back on May 18, adding that the hacking software uses vulnerability for digital assets heist. 

Technically, the miner captures at least 51% of the network hash rate and gets short-term control over the blockchain. It is said that such activities require considerable expenses, but the hackers can monetize funds via responding to transactions. While controlling the network the software started depositing BTG coins to trading platforms and sending these coins to the specific wallet simultaneously. The network would obviously reject the second transaction, though the hacker managed to include required transactions into the final version of the blockchain.

This means that attacker deposited coins and withdraw them promptly, canceling the original transaction. As a result, cryptos could be generated on a separate address.
According to the available data, the hacker's BTG address received more than 388,000 coins, which means some $18 million in fiat terms.

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24 May, 2018 12:30

← BitGrail unlikely to resume operations

Despite all attempts, the founders of BitGrail will not resume trading on the platform in the near term. The preliminary ban was supported by the court in Florence. Notably, the platform undertakes bankruptcy procedure. The decision was reportedly made following the petition filed by BonelliErede on behalf of 3,000 users striving to get back their assets.

BitGrail unlikely to resume operations

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24 May, 2018 11:12

US dollar down on the recent Federal Reserve minutes →

US dollar has slightly decreased against euro and other majors in Asia on Thursday following the release of the minutes of Federal Reserve meeting. At the same time, the yen has resumed rising on further weakening of demand for risk assets. The market was rattled by the rumors that the White House was working on a 25% import duty on vehicles.

US dollar down on the recent Federal Reserve minutes
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