As reported recently, an unidentified group has <a href="https://twitter.com/LucasNuzzi/status/1422637361138130944?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow noopener">reorganized</a> the Bitcoin SV blockchain and has created 3 separate chains that were mined at the same time. The Craig Wright promoted blockchain has just suffered another <a href="https://www.cryptoknowmics.com/glossary#51-attack">51% attack</a>, further incapacitating its already corroded reputation in the crypto space.
<h2>Blockchain Bitcoin SV of Craig Wright Suffers Attack</h2>
The recent attack on the Bitcoin SV blockchain is similar to the attack that was orchestrated by ZuluPool last month and the report of that was shared by an active member of the Crypto Twitter community, Lucas Nuzzi. Nuzzi is also a part of the team at CoinMetrics, which is a leading data analytics company.

In accordance with the briefing, a group of miners started a chain reorganization at 11:46 AM on August 3, 2021, and even managed to generate 3 different versions of the existing blockchain, which were being mined at the same time by different mining pools.

Well, it was not surprising, the attack laid an impact on the price of the Bitcoin SV coin and it contributed to the already <a href="https://www.cryptoknowmics.com/news/bitcoin-sv-on-the-verge-of-a-bearish-breakout-6-16-in-24-hours/">bearish sentiment</a> of the <a href="https://www.cryptoknowmics.com/news/self-crowned-bitcoin-inventor-wins-copyright-lawsuit/">Craig Wright</a> promoted coin.

As for its losses, it shredded around 7% in the past 24 hours and hit a low of $133.83 before recovering briefly to its current level, which is $137.
<h2>More About the 51% Attack</h2>
As revealed, a 51% attack occurs when a body manages to take control over 51% of the total hash rate of a blockchain, and this way, it can solitarily decide which new blocks are added to a chain confusing the nodes.

This kind of attack occurs on those blockchains that are not safe and are not interesting enough to the miners such as Verge, Ethereum Classic, and the recent addition to the list, Bitcoin Cash.

It should be noted that this case has just added to the already bad reputation of Bitcoin SV in the crypto market.

Craig Wright Promoted Blockchain Bitcoin SV Suffers Another 51% attack 

As reported recently, an unidentified group has reorganized the Bitcoin SV blockchain and has created 3 separate chains that were mined at the same time.

Sahaj is an aspiring journalist with a keen interest in cryptocurrency and the whole concept of Blockchain technology. He is positive about the future potential of Cryptocurrency and Blockchain in shaping the world of finance for good. At present, he is covering the latest developments in the field of the cryptosphere.

Craig Wright Promoted Blockchain Bitcoin SV Suffers Another 51% attack

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