Bitcoin SV has reportedly been subjected to a “massive” 51 percent attack that began around 11:45 a.m. Tuesday, resulting in up to three versions of the chain being mined concurrently.
Coin Metrics, a provider of analytics, confirmed Tuesday afternoon that the 51 percent attack had been detected by its Farum risk management platform.
Lucas Nuzzi, a network data product manager at Coin Metrics, confirmed information about the attack. “Someone is attempting to seriously destroy BSV,” he tweeted, adding:
“Attackers were able to take over the chain for more than 3 hours. All exchanges that received BSV deposits during that time period may have had their funds double spent.”
At the time of writing, it was unclear whether the attack had ended or whether the perpetrator was simply taking a break.
In November 2018, a highly contentious hard fork of the Bitcoin Cash (BCH) blockchain resulted in Bitcoin SV. BSV has the same monetary policy as BCH and Bitcoin (BTC), but the fork was caused by deep internal disagreements within the Bitcoin Cash community over a set of proposals to improve transaction efficiency.