Bittrex announces delisting of Bitcoin Gold

Posted 04 September, 2018

Bittrex is said to delist Bitcoin Gold coin following the recent network attack and compensation disputes.

The company reportedly decided to delist the fork since the project team of Bitcoin Gold refused to refund 12,372 BTG to remain on the exchange. Bittrex stated that this amount would be used to cover the losses faced by its users after the May attack.

The fork was hit by so-called 51% attack this May. Specifically, criminals managed to grab the major hash rate of the network via rented mining facilities, after that they were able to make repeated transaction spending. After that, crypto trading platforms lost 388,000 BTG (some $18 million). 

"We regret to inform our community that the crypto exchange Bittrex has decided to de-list BTG after we declined to pay them 12,372 BTG to remain listed," BTG team said in the official official statement.

As the BTG stated later, the exchange met them halfway and expressed readiness to cover a part of the sum from the reserves, while BTG project might provide the rest (some 6,000 coins) otherwise the fork would be delisted.

At the same time, BTG team commented that 51% attack was realized via vulnerability of Proof-of-Work consensus and it was a well-known risk of the blockchain rather than Bitcoin Gold bug.

They believe that delisting will not affect the BTG ecosystem as Bittrex is hardly among the major liquidity suppliers.

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04 September, 2018 13:37

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