Vertcoin hacked in a similar fashion as last year, cryptocurrency stolen 

Vertcoin, earlier this week, got hacked by a group of hackers. The hackers conducted a 51% hack in which 553 blocks of the 603 blocks got hacked. The hack was first noticed by James Lovejoy and published it on GitHub.

The hackers could double spend on a single transaction. The hackers spent 125 VTC worth $29 at the current market price.

According to the blockchain transaction, the owner of the wallet is unknown in which the funds were transferred.

A 51% attack takes place when one miner gets over 50% of the hashing power. The attacker or hacker can rewrite the blocks after the hack. 

Vertcoin was created in 2014 and last year the coin was hacked in a similar way in which over $100,000 worth of Vertcoins were stolen.

To prevent from further hack Vertcoin has switched from Proof-of-Work algorithm to Lyra2Rev3 one.

More from author


Please enter your comment!
Please enter your name here

Related posts


Latest posts

What are dApps in Blockchain?

You use a multitude of apps every day. From social media apps to ride-sharing apps- there is an application for everything. These apps are...

What Does Ethereum Merge Mean?

Ethereum Merge was one of the most anticipated events in the crypto industry. There was a lot of buzz surrounding the event and understandably...

What are Crypto Pump and Dump Schemes?|Tips on how to analyze a Pump and Dump Scheme|

If you’re into crypto trading, you might’ve seen ads for certain unknown crypto coins that were hyped up a lot on social media and...

Want to stay up to date with the latest news?

We would love to hear from you! Please fill in your details and we will stay in touch. It's that simple!