Coinbase Ceases BSV Trading

by in Cryptocurrency News

Coinbase stops Bitcoin SV

Leading crypto exchange CoinBase stopped BSV trading after the recent attack.

On August 3, after the news that the BSV protocol suffered a 51% attack, Coinbase reported about the decision. Hackers managed to reorg more than a dozen blocks and mine 3 chains at the same time.

Although the Bitcoin Association, an establishment that works to evolve business on the BSV, advised node validators to mark the affected chain as invalid, to lock the attacker's chain out, the network is still facing issues. In late June and over the next month BSV had been attacked 4 times. Those included block reorg. As informed by the Bitcoin Association, a chain of contending blocks was produced along with the actual chain.

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It's unknown whether the attacks were initiated by the same miner, who as the establishment states, operates under the name 'Zulupool’ moniker. One thing is apparent: the attacker or the group made up their minds to destroy the protocol.

On July 20, another major crypto platform Binance announced Binance Pool’s stopping BSV mining services.

BSV (Bitcoin Satoshi Vision), forked by Bitcoin Cash, appeared in 2018 with the aim to increase use cases of BTC and BCH. It is the 42th largest cryptocurrency on CoinMarketCap with over $2.5 B market capitalization.