What’s Going On?
Anonymous cryptocurrency Verge appears to have been hacked for the second time in as many months.
Why Does It Matter?
Hackers exploited vulnerabilities in Verge’s blockchain to steal the cryptocurrency’s XVGs tokens, reported TheNextWeb.
The attack reportedly lasted a few hours and around 35 million XVGs – worth more than $1.7 million at the time of the attack, according to the Coinmarketcap price – appear to have been stolen.
How Did It Happen
The attacker manipulated a bug in the Verge code that allows unscrupulous miners to set false timestamps on blocks, reported CCN.
Verge has downplayed the hack as a denial-of-service (DDos) attack on some XVG mining pools. The project acknowledged an issue in a Twitter update on Monday:
it appears some mining pools are under ddos attack, and we are experiencing a delay in our blocks, we are working to resolve this.
— vergecurrency (@vergecurrency) May 22, 2018
Verge has been busy with business development in other areas – the company announced a deal with PornHub last month that would see the adult website accept payments in the anonymous cryptocurrency.