After another hack, Verge losing support in its community, the end is near?

XVG blockchain is being under attack for the second time in the last couple of months and this is not good for their big partnership with Pornhub. Verge team has come out with a statement:

“It appears some mining pools are under ddos attack, and we are experiencing a delay in our blocks, we are working to resolve this.”

However, many crypto experts and knowledgeable people from the industry claim the attack is far greater than just DDOs attack on mining pools.

It appears there is a bug in the Verge code which gave an entrance point for the attacker which they used to introduce false timestamps on blocks and promptly mine new blocks resulting in another atrocious 51% attack Verge blockchain suffered in short period of time.

And this attack is generating far more heat on the Verge team as they hyped themselves to new heights with some big deals and partnerships they signed.

One of the more prominent critics of Verge (XVG) is the founder of Litecoin, Charlie Lee. Lee, a former employee at Coinbase and Google, criticized Verge saying it seems PornHub transactions are being reversed due to the ongoing hack.

“Verge mining is being exploited again. Someone has 51% attacked and taken over the Verge network again. PornHub transactions are being reversed!”

The partnership deal with Pornhub cost Verge a lot of money that the crowdsourced from their rabid and loyal community. The funds will allegedly be used to seal more similar large scale partnerships.

Charlie Lee was a not too thrilled with this collaboration either, stating it would have been better for the crypto world if Pornhub actually took some of the more established crypto coins as a partner.

And this recent hack gave Charlie a chance to gloat:

“Turns out Verge’s super expensive partnership was PornHub. “we think it has gained enough steam for us to penetrate the market.” penetrate. @Pornhub, enough with the foreplay. Time to accept the real cryptocurrencies like BTC, LTC, and XMR,”

Since the hack and condemnations from different people, Vergefams, a group of Verge enthusiasts has stopped their support of the privacy-focused cryptocurrency. Going by the social media silence, it is appearing that the end of Verge is near.

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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com

Rene Peters

Rene Peters

Rene Peters is editor-in-chief of CaptainAltcoin and is responsible for editorial planning and business development. After his training as an accountant, he studied diplomacy and economics and held various positions in one of the management consultancies and in couple of digital marketing agencies. He is particularly interested in the long-term implications of blockchain technology for politics, society and the economy.

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