Network Attack on XVG / VERGE

[BitPotus]

[mine_phun]

If i leave my bike without lock.... this is like when you have money for a lock, but spend it all instead on a snazzy purple paintjob. Plus the wheels are falling off and the brakes don't work.

You can make phun of it, fine by me, however we all know that right = right and wrong = wrong.
Pretty soon all Verge blocks will be mined and the worth of the coin zero meaning the coin is destroyed.

That leaves you with the following options:

- Inside job > highly unlikely as the value of the coins will be zero
- Plain hack to get money > Highly unlikely as the value of the coins will be zero
- Hate / Blackmail?

The hack is sophisticated, that already has been said. So i wonder who will help?

[Phyrexia]

People claiming this is an attack on the team/coin/token are just plain wrong.
A blockchain ecosystem does not consist of a team or a token. It's a codebase, in case of XVG a rather poor codebase.
Not the first time it's attacked, it won't be the last.
If people keep believing this thing actually has a future the attacker might benefit largely of it..

Has there been any official response of their infamous (incompetent) development team.
It's been acknowledged by reputable people in the industry that their fixes were lacking proper implementations, they were a band-aid rather than an actual fix.

Personally I'm relieved this happened again, the community was made aware that the previous implemented fixes weren't enough and now the proof is here that it's not enough.

Let's see how they'll try talking theirselves out of this one.

[Phyrexia]

If i leave my bike without lock.... this is like when you have money for a lock, but spend it all instead on a snazzy purple paintjob. Plus the wheels are falling off and the brakes don't work.

You can make phun of it, fine by me, however we all know that right = right and wrong = wrong.
Pretty soon all Verge blocks will be mined and the worth of the coin zero meaning the coin is destroyed.

That leaves you with the following options:

- Inside job > highly unlikely as the value of the coins will be zero
- Plain hack to get money > Highly unlikely as the value of the coins will be zero
- Hate / Blackmail?

The hack is sophisticated, that already has been said. So i wonder who will help?

What makes you wonder who will help?
It was made clear that the XVG dev team has no interest in adoption of fixes.
There were suggestions on how to fix the issue the first time it happened and none of the measurements were taken, can't see them adopting any of the solutions now.
Chances are they'll just do whatever they can to band-aid fix it and move on in silence, untill the next problem occurs.

[ocminer]

Block 2155850 to 2206272 were mined with super-low-diff for the hackers.. About 35 Millions in a few hours raher than a few weeks.. all alone for one person or group..

[boxalex]

Block 2155850 to 2206272 were mined with super-low-diff for the hackers.. About 35 Millions in a few hours raher than a few weeks.. all alone for one person or group..

makes 1,781,766 USD at the moment and time of writing.

[boxalex]

- Inside job > highly unlikely as the value of the coins will be zero
- Plain hack to get money > Highly unlikely as the value of the coins will be zero

You must be kidding, right?

How do you come to the conclusion the coin will go to zero? It won't go to zero, even should go to zero with that coding.
But the totally blinded to the moon Verge community will hold it at least at some level.

Nearly all hacks/but exploiting are done for money, why should it be different at Verge? Just because it's verge?

Last hack several millions USD, so far 1.7M USD, if this is "highly unlikely" i have no idea what cyber world you are living in, but in real life world that it's more than a good reason....

[honlino]

Since nothing really was done about the previous attacks (only a band-aid), the attackers now simply use two algos to fork the chain for their own use and are gaining millions:

https://i.imgur.com/7rB417b.png


Both algos, scrypt and lyra2re can be rented easily for a few bucks at nicehash, they simply send one block scrypt, after that a block lyra2re and so on and all with manipulated timestamps thus lowering diff to lowest possible mining several blocks per minute like this

Well, it's perhaps my Dutch nature thinking this, but this hack ain't for the money. The value of the coin will sink quickly the longer this takes and the damage is huge, so the attacker will have millions of worthless coins soon and is going nowhere. So most of the Verge fan's are right saying that this probably is a act of hate in my opinion. Second, there are people around on the net who can make your life like hell. You don't want to be on their fan list and i guess Justin unfortunately is.

@ocminer, it seems like you are a gifted person. Can you help Justin out to get this fixed the proper way then please and offer him some solutions in private perhaps?

I wish Justen and the Verge team the best of luck next hours/days.

Stop being so ignorant. Verge is being targeted because it has shitty coding and an incompetent developer. This hack is the result of the terrible job he did 'patching' the previous hack.

Hold on here. If i leave my bike without lock, it doesn't give someone the right to steal it. The same applies here.

This is an act of hate, destroying the coin and it is irreversible.

If something is unsafe, it better be hacked now then 2 years from now with more people using it...

[tomey]

Block 2155850 to 2206272 were mined with super-low-diff for the hackers.. About 35 Millions in a few hours raher than a few weeks.. all alone for one person or group..

makes 1,781,766 USD at the moment and time of writing.

Maybe they'll pump it to da Moonsoon.  

OMG. Diff over 2000 (X17) now. Will I get my mined coins?

[BonTonPlease]

- Inside job > highly unlikely as the value of the coins will be zero
- Plain hack to get money > Highly unlikely as the value of the coins will be zero

You must be kidding, right?

How do you come to the conclusion the coin will go to zero? It won't go to zero, even should go to zero with that coding.
But the totally blinded to the moon Verge community will hold it at least at some level.

Nearly all hacks/but exploiting are done for money, why should it be different at Verge? Just because it's verge?

Last hack several millions USD, so far 1.7M USD, if this is "highly unlikely" i have no idea what cyber world you are living in, but in real life world that it's more than a good reason....

The funniest thing about his comment is that he put it down in this logically structured sentence. That guy has some great logic!

[aciddude]

Maybe the hackers are just a collection of 14 year old boys....similar to the XVG devs..who just want free porn....which exists anyways..

[OrangeAgent]

Just find it very striking for this to happen a second time but at the same time it doesn't shock me at all.
Never invested in this project. Probably it will keep on happening, this is truly the king of shitcoins.

[JohnDoe3490]

Looks like the attack made about $950 per minute and 1.9 million dollars today. CRAZY!

[VNez]

Verge aka shitcoin whitebrand. I invite all miners and users move to ShitcoinDeluxe, the unique and really shitcoin that can't be attacked and its protected by her algorithm, dont use this darkdogeshit anymore, If you want a King of Shitcoins go to Shitcoin Deluxe guys

http://shitcoindeluxe.org/

They have a wallet for Google Play too, developers are working hard on it, feel free to take a look

https://play.google.com/store/apps/details?id=org.shtpay

[mindrust]

Why are people still mining this shitty coin? The codebase is obviously fucked.

Forget mining... who's buying this crap? You must be out of your mind to touch this after all these happened.

Shitcoins like this one, bcash and bitconnect hurts crypto and can do serious permanent damage to the ecosystem.

[Discounted]

Something is up again.  Network difficulty is at zero.  Another hack?  

Are you mining? If so it can't be zero. And if you are the question is WTF would you mine this shitcoin for!

Mine & sell right away. Its been one of the most profitable Scrypt coin lately.

With the complexity at almost 0, since I'm mining, I am supposed to wake up rich tomorrow morning lol.

Something is up again.  Network difficulty is at zero.  Another hack?  

Are you mining? If so it can't be zero. And if you are the question is WTF would you mine this shitcoin for!

It's just that the only thing mined is orphans...again and again...
 

You'll wake up with 0 balance because they're all invalid shares

"Shares" *puke*

[Rubberduck59]

absolute shitcoin.. im once again amazed by the incompetence of Verge's developers and the problematic handling of such a critical exploit 

[Epsylon3]

i stopped the yiimp.eu pool, until a fix is ready. I left it running for a while because diff was lowered, as respect for miners which should have now recovered their time/power loss.

[Iannn]

Yeah not much to do but wait and see.  XVG needs our kind thoughts and prayers right now.

[alani123]

Block 2155850 to 2206272 were mined with super-low-diff for the hackers.. About 35 Millions in a few hours raher than a few weeks.. all alone for one person or group..

What's to say that others didn't also benefit from this? Wasn't the chain open for anyone to mine on those algos? If the difficulty went down with an exploit, it went down for everyone. Right?