Are there any real-world examples of successful 51% attacks on popular cryptocurrencies?

6 answers

• Nov 26, 2021 · 3 years ago
  Yes, there have been several real-world examples of popular cryptocurrencies being successfully attacked by a 51% attack. One notable example is the attack on the Ethereum Classic (ETC) blockchain in January 2019. The attacker was able to gain control of more than 51% of the network's mining power, allowing them to rewrite transaction history and double-spend coins. This resulted in significant financial losses for exchanges and users who held ETC. It highlighted the vulnerability of cryptocurrencies to 51% attacks and the importance of network security measures.
  569285
• Nov 26, 2021 · 3 years ago
  Absolutely! A well-known case of a successful 51% attack on a popular cryptocurrency is the attack on Verge (XVG) in April 2018. The attacker was able to manipulate the blockchain and exploit a vulnerability in the network's mining algorithm. As a result, the attacker was able to mine a large number of XVG coins and create new blocks at a much faster rate. This incident raised concerns about the security of Verge and the effectiveness of its consensus mechanism.
  466156
• Nov 26, 2021 · 3 years ago
  Yes, there have been instances of successful 51% attacks on popular cryptocurrencies. One such example is the attack on Bitcoin Gold (BTG) in May 2018. The attacker gained majority control of the network's mining power and was able to carry out double-spending attacks. This led to financial losses for exchanges and users who accepted BTG transactions during the attack. It serves as a reminder that even well-established cryptocurrencies are not immune to 51% attacks.
  470118
• Nov 26, 2021 · 3 years ago
  Sure, let me give you an example of a successful 51% attack on a popular cryptocurrency. In 2019, the cryptocurrency Grin (GRIN) experienced a 51% attack. The attacker was able to control the majority of the network's mining power and manipulate the blockchain. This allowed them to double-spend coins and disrupt the normal functioning of the network. The incident raised concerns about the security of Grin and highlighted the need for robust consensus mechanisms to prevent such attacks.
  49098
• Nov 26, 2021 · 3 years ago
  Certainly! One example of a successful 51% attack on a popular cryptocurrency is the attack on Feathercoin (FTC) in 2013. The attacker gained majority control of the network's mining power and was able to manipulate the blockchain. This resulted in the attacker being able to spend the same coins multiple times, causing financial losses for exchanges and users. The incident highlighted the importance of network security and the need for cryptocurrencies to have strong defense mechanisms against 51% attacks.
  51186
• Nov 26, 2021 · 3 years ago
  Yes, there have been real-world examples of popular cryptocurrencies being successfully attacked by a 51% attack. One such example is the attack on Litecoin Cash (LCC) in 2018. The attacker gained majority control of the network's mining power and was able to manipulate the blockchain. This allowed them to double-spend coins and disrupt the normal functioning of the network. The incident raised concerns about the security of LCC and the need for stronger network defenses against 51% attacks.
  49671