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Breaking News / Cryptocoins / Verge

Charlie Lee Claims That Verge’s PornHub Transactions Have Been Reversed

Yesterday, we reported that Verge was under attack once again. Whilst initial reports seemed to suggest the attack was but a mere DDoS of the Verge network, it is now clear the Verge have been subject to a 51% attack, similar to that suffered by Verge just a few months back. In essence, a 51% attack occurs when a lone entity ceases control of more than 50% of the network. According to Charlie Lee, this attack has helped to reverse any value gained through PornHub transactions using the Verge XVG currency. A currency which has recently been listed on PornHub as a payment option for their adult entertainment subscription service.

As a result of this attack, at the time of writing, Verge is valued at $0.043, down 17.07%.

Clearly, this hack has had a big impact of the currency. GIven the current state of the markets and the current downward trend, this additional bad news has really taken the life out of XVG. WIth this being the second attack in about as many months, many Verge investors are starting to question the integrity of the network. Overall, how can investors feel their assets are safe, when a currency that claims to be totally secure, is so easily accessed by hackers and the likes?

Moreover, with such attacks helping to contribute to huge falls in the value of Verge XVG, who wants to invest in a currency that is likely to tumble at the next sign of a hack, a hack that seems more likely as each day goes by?

What next for Verge XVG?

Well, the team will need to work really hard to recover from this. Last time we saw Verge fork as a result of the attack, we should expect a similar response in coming days. The value of XVG has fallen and as mentioned, this latest attack has really contributed to that. The Verge team really need to pull something out of the bag fast if they wish to recover from this.

For now, we will keep an eye on Verge XVG and the Verge team, moves will be made soon and these will have an impact on Verge’s position in the market. Their next move, could be their most important yet.


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