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.

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