Are there any known examples of successful 51 percent attacks in the history of cryptocurrencies?

9 answers

• mogli1Jan 03, 2022 · 3 years ago
  Yes, there have been a few known examples of successful 51 percent attacks in the history of cryptocurrencies. One notable example is the attack on the Ethereum Classic (ETC) network in January 2019. During this attack, an unknown entity gained control of more than 50 percent of the network's mining power and was able to double-spend ETC tokens. This resulted in significant financial losses for exchanges and users who held ETC. It is important to note that such attacks are rare and require a significant amount of computational power and resources.
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• Hakim DarvishNov 12, 2020 · 5 years ago
  Absolutely! One example of a successful 51 percent attack occurred in 2018 when the Verge (XVG) network was targeted. The attacker was able to gain control of the majority of the network's mining power and successfully executed a series of attacks, including double-spending XVG tokens. This incident raised concerns about the security and decentralization of the Verge network, leading to a decline in its reputation within the cryptocurrency community.
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• Aparna AppuMar 19, 2021 · 4 years ago
  Yes, there have been successful 51 percent attacks in the history of cryptocurrencies. However, it's important to note that these attacks are relatively rare and require a significant amount of computational power and resources. One notable example is the attack on the Bitcoin Gold (BTG) network in May 2018. The attacker gained control of more than 51 percent of the network's mining power and was able to double-spend BTG tokens. This incident highlighted the importance of network security and the need for ongoing improvements to prevent such attacks in the future. At BYDFi, we prioritize the security of our platform and continuously work to enhance our defenses against potential threats.
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• Caroline Mella CrippaFeb 28, 2023 · 2 years ago
  Yes, there have been instances of successful 51 percent attacks in the history of cryptocurrencies. One example is the attack on the ZenCash (now Horizen) network in June 2018. The attacker gained control of the majority of the network's mining power and was able to execute a double-spending attack. This incident raised concerns about the security and decentralization of the ZenCash network. It is worth noting that the cryptocurrency community and developers are constantly working to improve security measures and mitigate the risks associated with such attacks.
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• Adnan RazzaqDec 29, 2020 · 5 years ago
  Certainly! While successful 51 percent attacks are relatively rare, there have been notable instances in the history of cryptocurrencies. One example is the attack on the Feathercoin (FTC) network in June 2013. The attacker gained control of the majority of the network's mining power and successfully executed a double-spending attack. This incident highlighted the importance of network security and the need for increased vigilance within the cryptocurrency community.
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• jaelJan 22, 2024 · a year ago
  Yes, there have been successful 51 percent attacks in the past within the cryptocurrency industry. One example is the attack on the Bitcoin SV (BSV) network in July 2019. The attacker gained control of more than 50 percent of the network's mining power and was able to manipulate transactions and potentially double-spend BSV tokens. This incident raised concerns about the security and decentralization of the Bitcoin SV network. It is important for cryptocurrency projects to continuously improve their security measures to prevent such attacks.
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• Lucas de AraujoJun 18, 2023 · 2 years ago
  Indeed, there have been instances of successful 51 percent attacks in the history of cryptocurrencies. One notable example is the attack on the Litecoin Cash (LCC) network in April 2018. The attacker gained control of the majority of the network's mining power and successfully executed a double-spending attack. This incident highlighted the vulnerabilities that can exist within blockchain networks and the importance of implementing robust security measures.
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• ankitmishraJan 25, 2021 · 4 years ago
  Yes, there have been successful 51 percent attacks in the history of cryptocurrencies. One example is the attack on the MonaCoin (MONA) network in May 2018. The attacker gained control of more than 50 percent of the network's mining power and was able to manipulate transactions and potentially double-spend MONA tokens. This incident raised concerns about the security and decentralization of the MonaCoin network. It is crucial for cryptocurrency projects to prioritize security and implement measures to prevent such attacks.
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• Chris AdamsonSep 09, 2022 · 3 years ago
  Certainly! There have been instances of successful 51 percent attacks in the history of cryptocurrencies. One example is the attack on the Zencash (now Horizen) network in May 2018. The attacker gained control of the majority of the network's mining power and successfully executed a double-spending attack. This incident highlighted the importance of network security and the need for ongoing improvements to prevent such attacks in the future.
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