Home News Pornhub Transactions Reversed; Litecoin Founder Charlie Lee Flays Cryptocurrency Verge

Pornhub Transactions Reversed; Litecoin Founder Charlie Lee Flays Cryptocurrency Verge

May 23, 2018 16:56
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Last month saw some interesting tie-ups between companies and cryptocurrencies. One such collaboration was the Pornhub-Verge tie-up which was announced with a lot of fanfare on both sides.

However, seems like there is trouble in paradise. Some news reports suggested that Verge transactions on the Pornhub website were being reversed.

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Confirming the news on Monday, the official Twitter handle of the cryptocurrency ambiguously said, “It appears some mining pools are under ddos attack, and we are experiencing a delay in our blocks, we are working to resolve this.”

A few commenters on the tweet said that the problem was a recurring one and Verge’sdevelopment team was at fault. One user bluethundr said, “DDOS attack on #Verge? You spelled mining exploit wrong. It’s the same attack as last time, slightly modified. Your Devs didn’t listen or correct the problem from last go around.”

Chiming in Litecoin founder Charlie Lee lambasted Verge by saying, “Verge mining is being exploited again. Someone has 51% attacked and taken over the Verge network again. PornHub transactions are being reversed!  Using 5 mining algorithms actually made it much worse.” To illustrate his point, Lee attached an article that explained what went down.

The article said, last month, a so-far unidentified hacker was able to severely compromise Verge, a relatively small, privacy-focused cryptocurrency. The mystery hacker managed to dominate the network on three occasions for intervals of several hours at a time over the course of April 4th-6th, preventing any other user from making any payments.

Worse, in that interval, they were able to generate what is effectively counterfeit Verge at a rate of 1,560 Verge coins (roughly $80) per second, minting what amounted to over a million dollars worth of the currency.

Not liking the attack, the official handle of Verge Coin retorted saying, “Real smart bashing Vergecurrency who is partnered w/ a company that might have an NDA with you that is partnered with XVG.”

However Lee clarified that he was not afraid of speaking the truth and  stated “we could partner with TokenPay or even Verge in the future. I’m not going to hold back and not speak the truth even if the Litecoin Foundation has a partnership.”

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