BTC.COM and BTC.TOP performed a 51% attack on Bitcoin Cash network

24 May, 2019
by David Borman
Security
BTC.COM and BTC.TOP performed a 51% attack on Bitcoin Cash network

Word has been spreading across twitter and reddit that last week, after the planned upgrade to the Bitcoin Cash network, an unknown miner attempted to use an exploit to claim coins that were supposed to be unspendable. When the BTC.COM and BTC.TOP mining pools saw this, they worked together, controlling more than half the network, to perform a 51% attack and reorganize the recent blocks to reclaim the funds. Now the community is understandably upset, as this completely destroys the notion of "decentralization" on the network.

The story is a little complicated, but Guy Swann did his best to explain the situation on twitter, here are some highlights:

The thread links to a blog that seems to be from the attacker, explaining why they did what they did.

This news has flown under the radar for many, but some on twitter are definitely forming opinions about this:

Some however, defended these actions.

It is ultimately up to each user if they are comfortable with just two miners having enough power to reorganize the blockchain, but it is looking like this is definitely what happened. BTC.TOP has in the past had over 51% of the hashing power all by itself, though recently this number has decreased.

Will there be further outcry or will this story simply fizzle out? Stick with Chepicap for all updates on the Bitcoin Cash 51% attack drama!

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