Although my time is very limited currently there is always enough time to take a quick look at my favorite snake oil project Vergecurrency. Currently ranked around CMC 70 still one of the bigger projects, and basically a prime example how inferior tech, copy paste, some teenie style hype and false promises still lead to mulitmillion dollar valued coins.A quick look at the block explorer was enough: one entity overtook the X17 mining algorithm months ago. See here: https://ift.tt/2M03V0d publicly known pools do not find blocks on this algorithm anymore. What is happening?An unknown entity mines very fast subsequent blocks up to the current limit (6 blocks in 6 seconds is maximum I observed) on three different addresses. Since these mined blocks are special it is very easy to track how many blocks are mined every day by this entity: https://ift.tt/2KsQUcv see the 0 XVG in the mining output transaction? All lead here: https://ift.tt/2M03YJr a quick look on the timeframe of the possible 500tx viewable in this explorer, calculate profit in 24hour with exploiting XVG. You also see these fast subsequent blocks are a pattern, no coincidence. ~570 blocks a day, mean 416.100XVG, or at current rates ~2.300$ a day.Here is a list of the three addresses that are used for exploiting X17:https://ift.tt/2KvxoMi ( 10135842.1 XVG so far )https://ift.tt/2M040kx ( 10137386.2 XVG so far )https://ift.tt/2KsD2id ( 10016095.5 XVG so far )So in total the attacker silently mined 30.289.000 XVG over 2+ months, or ~212.000$ with unknown effort.I can just assume all algorithms are vulnerable but the attacker wants to make profit and fly under the radar.Stay safe and don't trust shiny whitepapers, fabulous advertising or snake oil community updates. Just trust the unfiltered underlying tech. Also dive your own favorite projects chain. Blockchains are awesome! :)----Want to tip a beer?XMR: 49F7nLH6XcS8Nk3g8Y7NxtKqGw4nkKCuyamQK31owMFbF6xB8PD3PhWQYkfnq9wbi4AYYBoEYc1VXTYRQXgxVXKAJ5oMWnV
Submitted August 06, 2019 at 01:00PM
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