November 29, 2021

Verge of disaster: 200 days transactions wiped from blockchain

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Privacy-focused blockchain network Verge (XVG) has experienced a significant block reorganization, replacing transactions dating as far back as July 2020.

Despite being described as potentially “the deepest reorg that has ever taken place in a top 100 cryptocurrency,” analysts are yet to confirm that the incident comprised a coordinated attack.

Coinmetrics chief operating officer Antoine Le Calvez was one of the first to notice the reorg, sharing a screenshot on Twitter showing that at least 560,000 blocks had disappeared on Feb. 15.

Looks like $XVG (Verge) experienced a massive 560k+ blocks reorg.@coinmetrics’ node is on a new chain whose last common ancestor with the previous chain dates to July 2020.

— Antoine Le Calvez (@khannib) February 15, 2021

Le Calvez suggested the reorg could have been caused by a double-spend, in which a number of XVG tokens are used simultaneously for two separate transactions. However, due to the magnitude of the incident, Calvez admitted it will take some time for developers to comb through the data to establish the exactsource of the reorg.

As a result of this roll-back, any user who received or purchased XVG tokens sinceTitle: Verge of disaster: 200 days transactions wiped from blockchain
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Published Date: Tue, 16 Feb 2021 02:21:20 +0000