Verge Currency (XVG) has been hacked and to deal with the attack the company is implementing a fork in the code.
There is a thread on BitcoinTalk that apparently outlines the attack. OCMiner explains:
Due to several bugs in the XVG code, you can exploit this feature by mining blocks with a spoofed timestamp. When you submit a mined block (as a malicious miner or pool) you simply set a false timestamp to this block one hour ago and XVG will then “think” the last block mined on that algo was one hour ago.. Your next block, the subsequent block will then have the correct time.. And since it’s already an hour ago (at least that is what the network thinks) it will allow this block to be added to the main chain as well.
Verge stated via Twitter there was an attack that lasted about 3 hours but it has since been cleared up.
We had a small hash attack that lasted about 3 hours earlier this morning, it’s been cleared up now. We will be implementing even more redundancy checks for things of this nature in the future! $XVG #vergefam
— vergecurrency (@vergecurrency) April 4, 2018
There is an ongoing discussion where Verge says it will not rollback.
Insult to injury there appears to be scam threads on Twitter with posters trying to take advantage of the situation. On poster allegedly fell for the spoof;
“I visited some hours ago the official Verge Twitter profil[e] to read the news about the hash hack. While reading the twee[t] i noticed several messages offering a compensation for the attack by Verge. Send x Eth and you get some bonus back. Sounded legit to me as it was [affiliated] to the hash attack and i suffered from it as well having had some hours only orphaned blocks on all my baikals, hence i fall victim to this damn scam on the official twitter page.
Now, while i have myself for sure some [fault] for this i’am seriously angry about how on the official verge twitter page 100s of scams and fake messages that say they got the ETH back are tolerated and nobody cares about it?!?! How is this possible. After i realized i got scammed i even made a post in this tweet that its a scam and to remove it asap, nothing happened and people still fall after that scam.”
No wonder Twitter has banned all crypto promotions.
This is just the latest hack in a long line of crypto platforms that have flaws in their code.
Verge describes itself as a “secure and anonymous” cryptocurrency. I guess one out of two isn’t too bad.