Verge and XVG seem to have an awful lot of bad luck when it comes to attacks and security breaches. This is most ironic when you consider that Verge claim to be the privacy coin. Within Verge, your data is treated with the highest level of security and privacy, this is why Verge is now available as an anonymous payment option on PornHub etc. Of course, the attacks faced by Verge are not attacks that see the loss and theft of data, instead, attackers really seem to enjoy overloading the Verge network, or DDoS attacks. A DDoS, or a Distributed Denial of Service attack is essentially used to disturb the network and thus to prevent other people from accessing resources within the attacked network. According to Cloudflare, a DDoS is:
it appears some mining pools are under ddos attack, and we are experiencing a delay in our blocks, we are working to resolve this.— vergecurrency (@vergecurrency) May 22, 2018
“A malicious attempt to disrupt normal traffic of a targeted server, service or network by overwhelming the target or its surrounding infrastructure with a flood of Internet traffic. DDoS attacks achieve effectiveness by utilizing multiple compromised computer systems as sources of attack traffic. Exploited machines can include computers and other networked resources such as IoT devices. From a high level, a DDoS attack is like a traffic jam clogging up with highway, preventing regular traffic from arriving at its desired destination.”Remember, during March, Verge feel victim to a 51% attack that saw the majority of the Verge network taken over by a lone entity, this sparked ideas that actually Verge had set up the crowdfunding campaign (that would eventually lead to the PornHub/MindGeek partnership) in order to raise money to flee with. In short, people believed the attack was a set up. It did transpire that this was no longer the case. Another attack of a similar nature does call to question the integrity of Verge, why are they being targeted so often? In this instance, the value of Verge XVG doesn’t seem to have been impacted too much. At the time of writing, XVG is valued at $0.051, down 5.84%, this is in line with the current market trend and therefore XVG seems to be unaffected by the attack. What you must consider here though, as a Verge investor, are your assets safe? With all of this in mind, this is indeed a very sensible question to ask. Cryptocurrencies are inherently risky, Verge however seem to be at the constant end of some sort of hack or attack, with this in mind, play things extra safe and when trading your Verge, remain vigilant. Doing so, should at least ensure your assets are safe. In the meantime, we expect Verge to release a more official statement regarding this matter.