Bitcoin Gold (BTG) dev team stopped an reorganization attack.

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4 years ago

The Bitcoin Gold dev team prevented a reorg attack to their mainnet accordingly to a statement released on friday.

Explaining it, the team claimed that the attack was directed to their chain, and was rightly organized. The ones behind it rented mining power at Nicehash, a firm who provide mining service, on the first day of july and and during 10 days mined a "ghost" chain that produced 1,300 blocks.

On July 10, the attackers released the "ghost chain" in an attempt to collect 8,000 BTG (~$75,000) but promptly the developer team prevented the attack to happen, and after detect it, communicate the mining pools and Crypto exchanges about the attempt and that was important to the attack failure also forced the team to update the network version and provide it to collaborators, with an updated network the exchanges and mining pools could stop the attacker, as it created an honest block which rejected the old code mined by the fraudster!

The Bitcoin Gold reorganization attack was extremely long and took more than 10 days to be detected, to note that this isn't the first time BTG network is attacked in the past the Blockchain suffered 2 attacks one for $18,000.000 in May of 2018 and another one in January of 2020 of $70,000 and seems BTG will continue to face this kind of attacks.

What's reorganization attack.

Reorg attacks is when a group of miners who have a major hashpower decide to pick a point of attack and start mining a "ghost chain" and this chain could mine faster than the rest of the other miners so when the public chain is on next block this could be one step further read more about here.

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4 years ago

Comments

Great very informative article!

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User's avatar Jaz
4 years ago

Thanks!

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4 years ago

Wow! A big clap for BTG team. 👏

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4 years ago

Yes it they did a marvelous job!

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4 years ago

I read about it on one of the crypto news sites the other day. Hackers are always trying to find vulnerable links to exploit.

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4 years ago

Yes they are so dedicated to their schemes that make them professional on the job they do, imagine if the team fall to detect them that was to be a failure that gave the hackers a great sum in return almost $75,000, those guys are dangerous!

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4 years ago

Exactly they don’t leave any chance and are always ready

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4 years ago

That's why we need to always stay alert about their intentions and learn how to detect a scam and be prepared to fight and report any attempt of hacking!

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4 years ago

Exactly. I always use two factor authentication and other anti hacking tools to try to secure my assets

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4 years ago

That's cool, and very nice move from your side, we don't know when we gonna be hacked so measures are necessary to fight back those guys!

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4 years ago

Exactly. I started using 2FA around two years back. Luckily do far I didn’t fall victim to any of the incidents

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4 years ago

That's nice and I hope you continue to get secure on internet!

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4 years ago