Detail Analysis
Date:
Status:
Count:
Contributor:
May 18, 2018
Verified
4
zerofriction.io
Loss Amount:
18,000,000
Recovered Amount:
-
Currency:
Dollars, BTG
KYC By:
Audit By:
None
None
Website:
No data
Twitter:
No data
Discord:
No data
Telegram:
No data
Medium:
No data
Github:
No data
Key Indicators
Platform:
Type:
Category:
Method:
Bitcoin Gold
Network
Chain
51% Attack
Extended Method:
51% attack
Data Sources:
In May 2018, the Bitcoin Gold (BTG) blockchain was 51% attacked for the first time suffering a loss of more than $18 million. BTG is a fork of the Bitcoin protocol but it doesn’t use the SHA256 consensus algorithm like BTC, BCH, or BSV. The blockchain BTG utilizes a variant of the Equihash algorithm (Equihash 144, 5 or “Zhash”) which can be mined with a GPU. Numerous exchanges including Binance, Bitinka, Bitfinex, Bittrex, Bithumb, and Hitbtc lost funds and the hack resulted in a total loss of around 388,000 BTC or $18M USD at the time of the hack. Bittrex lost approximately 12,372 BTG and asked the BTG development team to compensate the firm for the losses, according to the BTG organization.
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