How the PoW incentive system prevented what looked very much like SV’s attack on BCH.

04:30 AM PST

Craig Wright started tweeting a lot about BCHsv and how he plans to get > 50% of network hashrate to support BCHsv: https://twitter.com/ProfFaustus/ , including bragging about how he broke BU: https://twitter.com/ProfFaustus/status/1061244439585271808

05:54 AM PST

A thread was posted on 4chan.org indicating a massive drop in found blocks on the BTC network: http://boards.4chan.org/biz/thread/11697012

06:25 AM PST

BTC’s 3-hour hashrate estimate dropped from 40 exahashes down to 20 exahashes, then quickly climbed back up to 40: https://fork.lol/pow/hashrate

06:30 AM PST

A massive BCHsv Pump occurred, pushing BCHsv up by about 28%: https://poloniex.com/exchange#usdc_bchsv

06:49 AM PST

A thread was posted on 4chan.org indicating that BCHsv pools started mining massive blocks and wrote a proposal with regards to how such an attack could take place: http://boards.4chan.org/biz/thread/11697353 ,
https://cash.coin.dance/blocks


My theory is that the proponents of BCHsv knowingly and intentionally exploited a zero-day vulnerability in BU, coordinated it with a massive BCHsv price pump, all the while purchasing hashrate from BTC pools/miners in order to attack the BCH network.


At the time of this writing, it appears that:

  • BU mining nodes have been patched to prevent this vulnerability from being exploited.
  • BTC hashrate is back to normal.
  • The attack failed.
  • Someone lost a lot of money and exposed themselves to a lot of potential legal liability.

submitted by /u/ugtarmas
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