Crypto Exchanges Begin Halting Bitcoin SV Trading Following A Series Of Attacks

The price of Bitcoin SV (Bitcoin Satoshi Version) was slightly perturbed as the community started getting serious about the news that cryptocurrency underwent a dip of more than 51%. After noticing the attack targeting the network, Coinbase quitted the trade of cryptocurrency. The company Coinbase, which recently ranked as a recognized exchange of BSV, has made an announcement saying that it is suspending all the crypto trading through the website from today onward.

The other listed crypto exchanges have also mentioned their viewpoints about the situation in this respect. Even though Coinbase has stopped the transactions, Gravity (a crypto exchange based on BSV) has not yet decided about halting its proceedings. Rather, it has declared today on Twitter that the firm would continuously process transactions in close monitoring. Huobi is among the exchanges that normally reflected about trading. It also disclosed today on Twitter that the firm found no safety concerns regarding its customers and that they should not adhere to the pointed out BSV vulnerabilities.

Huobi expressed that the company is pleased to be the single unaffected exchange from the strikes. It added that the risk-controlling procedures had already been undertaken months ago, and the tech infrastructure of the firm has also been reinforced by the company to protect the consumers. The apparent trading on Kucoin (the largest BSV trading market) seemed to move routinely as well.

In the past, the hackers struggled a lot to break through the BSV and then acquired a huge hashing power to overpower it today. It is happening for the second time that BSV is undergoing a double-spending strike within a month. The reports signal that a few blocks have previously been rearranged, and at the beginning of the attack, the mining was being done on the blockchain’s three versions. Bitcoin Association revealed that the network is presently reordering several blocks to prevent attacks by the mischievous actor who is trying to unlawfully double-spend the coins.

These attacks have once more started the debates regarding the strong competition among BTC (Bitcoin) and BSV (Bitcoin Satoshi Version), associating the attacks to the people against the previous developments such as enhanced bock size and transactional volume incorporated by ‘BSV network. On 16th July, the reward ratio of the per-block fee charged on Bitcoin SV crossed BTC’s as noticed to occur uniquely, making it a historic move on the part of the network.