Tagdouble spend attack

Double Spend Attacks ‘Unrealistic’ on Blockchains with High Hashrate: Bank of Canada Research

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A newly-published study from the Bank of Canada on incentive-based mining has confirmed what many cryptocurrency supporters have long argued: the risk of double spend attacks is relatively low on high-hashrate networks like Bitcoin and Ethereum, though smaller networks may not be quite so safe. The study, which was conducted by Jonathan Chiu and Thorsten V. Koeppel, applied game theory to...

Litecoin Cash Allegedly the Latest Small-Cap Altcoin to Suffer 51 Percent Attack

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With all the media coverage surrounding double spend attacks in recent weeks, it appears that one such exploit -- a 51 percent attack on litecoin cash (LCC) -- managed to slip through the cracks. Litecoin Cash Allegedly Hit by 51 Percent Attack The alleged incident appears to have occurred on May 30, when Russia-based cryptocurrency exchange YoBit tweeted that it had identified a 51 percent...

ZenCash Latest Altcoin to Suffer 51 Percent Attack

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Privacy-centric cryptocurrency ZenCash (ZEN) has become the latest altcoin to succumb to a 51 percent attack, the project’s developers confirmed over the weekend. According to an official statement, a malicious miner successfully executed the attack -- as well as at least three double spends -- against the cryptocurrency's network on June 2 at approximately 10:43 pm ET. To deploy a 51 percent...

Bitcoin Gold Hit by Double Spend Attack, Exchanges Lose Millions

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A malicious miner successfully executed a double spend attack on the Bitcoin Gold network last week, making BTG at least the third altcoin to succumb to a network attack during that timespan. Bitcoin Gold director of communications Edward Iskra first warned users about the attack on May 18, explaining that a malicious miner was using the exploit to steal funds from cryptocurrency exchanges. To...