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2020-01-28 08:57:12

Blockchain double spending attack on Bitcoin Gold

Bitcoin Gold (BTG) is subject to a blockchain double spending attack worth around $72,000 as a result of a 51 percent mining attack to take control of the Bitcoin Gold blockchain. The attacks came on Thursday and Friday, dated 23rd and 24th of January, where the first attack costed the blockchain around 1900 BTG, and the second attack wave costed a loss of 5267 BTG. A 51 percent attack occurs when a hacker or a group of hackers try to take control of the 51% nodes in any specific blockchain. James Lovejoy explains that attackers must have spent around $1200