Bittrex Delist the Bitcoin Gold After Declined to Pay for Cyber Attack
Bittrex Delist the Bitcoin Gold After Declined to Pay for Cyber Attack

Worlds thirteenth biggest cryptocracy exchange Bittrex has decided to delist the Bitcoin Gold from this blockchain once they diminished to cover 12, 372 BTG.

Bittrex Delist the Bitcoin Gold After Declined to Pay 12,372 BTG for Cyber Attack

BTG is one of the leading crypto-currencies with $374, 203, 766 USD its holding along with market cap rank 29. May Malicious hackers trying a double spend attack on Bittrex and few cryptocurrency trades and stolen the Bitcoin Gold, using leased power from NiceHash to play attacks. The result causes a quantity of about $18.6 million USD worth of Bitcoin Gold were moved to an outsider cryptocurrency exchange.

In this instance, Bittrex informed to Bitcoin Gold to paying 12, 372 BTG to pay the loss they incurred and later they said, we’d pay part of the loss from their very own BTG reserves and asked BTG cover the remaining ~6000 BTG, If it’s not they bitkoyn Gold will be delisted From Bittrex Exchange.

51% double spend attack has always been a known high risk from the blockchain entire world, In this instance, Strike isn’t because of any flaw or fault from BTG block or code and Bitcoin Gold utilizing the same code as the bitcoin code.

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So BTG stated, The BTG group isn’t accountable for safety policy within personal entities such as Bitrex, people who earn revenue conducting a business must deal with the related risks and are responsible to their own safety.

In addition Bitcoin Gold supplies the following extensive measures to defend Bittrex. Gave Bittrex the attacker’s wallet address. Advised they raise their confirmation prerequisites to give them adequate time to respond. Advised them to flag and review any residue. BTG warned them of the onset of the actual attack that victimized them. Bitrex became a victim of the last and biggest BTG double spends the attackers performed. The attackers deposited 12, 371 BTG from the wallet we identified. Even after this operation, finally, Bittrex made a decision to delist the Bitcoin Gold.

In addition BTG Said, Our exchange partners can rest assured we’ll continue to work to help them when possible, and that we’ll continue to work towards improvements that will increase safety in the crypto space.