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First Cryptocurrency Adopted by Pornhub Suffers Brutal 51 Percent Attack

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Mon, 02/15/2021 - 20:23
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Alex Dovbnya
Pornhub darling Verge (XVG) has suffered a devastating block reorganization
First Cryptocurrency Adopted by Pornhub Suffers Brutal 51 Percent Attack
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Privacy-focused cryptocurrency Verge (XVG) suffered a 560,000-blockchain reorganization in the aftermath of a successful 51 percent attack this Monday.

According to Lucas Nuzzi of CoinMetrics, this is the largest reorganization that a top 100 cryptocurrency has ever witnessed. Over 200 days of the coin's transaction history have been erased.     

While commenting on the incident, Litecoin creator Charlie Lee warned his followers about cryptocurrencies with a low cost for staging a theoretical 51 attack 

Always be wary of coins that are highly NiceHash-able. When there’s no upfront cost, the incremental cost can be quite cheap. And it would be easy to do a 51% attack and re-org the chain.

Charlie Lee
Image by @SatoshiLite

Related
Verge Forced to Hard Fork Due to Mining Bug That Allowed $1 Mln Hack

Verge—which was originally launched as “Dogecoin Dark” back in 2014—gained prominence back in April 2018 when it became the very first cryptocurrency that was adopted by Pornhub. XVG was reportedly chosen because of its anonymity-oriented features. 

As reported by U.Today, the largest adult website in the world started accepting Bitcoin and Litecoin in September 2020 before adding a slew of other cryptocurrencies.    

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.