Bitcoin Gold 51% Attempt Foiled - Revision history

Azoundria at 16:12, 2 May 2023

2023-05-02T16:12:08Z

← Older revision		Revision as of 10:12, 2 May 2023
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	{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/bitcoingold51attemptfoiled.php}}		{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/bitcoingold51attemptfoiled.php}}
	{{Unattributed ~~Citations~~}}		{{Unattributed Sources}}

	[[File:Bitcoingold.jpg\|thumb\|Multiple]]This was an unsuccessful 51% attack against Bitcoin Gold. The network was upgraded to reject the hacker's chain due to a tip-off, and avoided any reorganization.		[[File:Bitcoingold.jpg\|thumb\|Multiple]]This was an unsuccessful 51% attack against Bitcoin Gold. The network was upgraded to reject the hacker's chain due to a tip-off, and avoided any reorganization.
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	Not only were the attackers not successful. They lost the funds they spent on mining and any other exchange fees related to the attack.		Not only were the attackers not successful. They lost the funds they spent on mining and any other exchange fees related to the attack.

	This is a global/international case not involving a specific country.		This is a global/international case not involving a specific country.<ref name="blockthreat-2173" /><ref name="bitcoingold-3002" /><ref name="wikipedia-7534" />
	<ref name="blockthreat-2173" /><ref name="bitcoingold-3002" /><ref name="wikipedia-7534" />

	== About Multiple ==		== About Multiple ==
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	!Description		!Description
	\|-		\|-
	\|July 10th, 2020 ~~12:00:00 AM~~		\|July 10th, 2020
	\|Main Event		\|Main Event
	\|Expand this into a brief description of what happened and the impact. If multiple lines are necessary, add them here.		\|Expand this into a brief description of what happened and the impact. If multiple lines are necessary, add them here.
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	\|		\|
	\|}		\|}

			== Technical Details ==
			This section includes specific detailed technical analysis of any security breaches which happened. What specific software vulnerabilities contributed to the problem and how were they exploited?

	== Total Amount Lost ==		== Total Amount Lost ==
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	== Ongoing Developments ==		== Ongoing Developments ==
	What parts of this case are still remaining to be concluded?		What parts of this case are still remaining to be concluded?
			== Individual Prevention Policies ==
			{{Prevention:Individuals:Placeholder}}

			{{Prevention:Individuals:End}}

			== Platform Prevention Policies ==
			{{Prevention:Platforms:Placeholder}}

			{{Prevention:Platforms:End}}

			== Regulatory Prevention Policies ==
			{{Prevention:Regulators:Placeholder}}

	== Prevention ~~Policies ==~~		{{Prevention:Regulators:End}}
	~~Which policies could have prevented this event from happening?~~

	== References ==		== References ==
	<references><ref name="blockthreat-2173">[https://blockthreat.substack.com/p/blockthreat-2020-a-year-in-review No Title] (Aug 2, 2021)</ref>		<references><ref name="blockthreat-2173">[https://blockthreat.substack.com/p/blockthreat-2020-a-year-in-review No Title] (Aug 3, 2021)</ref>

	<ref name="bitcoingold-3002">[https://bitcoingold.org/emergency-update-0-17-2/ Emergency update 0.17.2 \| Bitcoin Gold] (Aug 2, 2021)</ref>		<ref name="bitcoingold-3002">[https://bitcoingold.org/emergency-update-0-17-2/ Emergency update 0.17.2 \| Bitcoin Gold] (Aug 3, 2021)</ref>

	<ref name="wikipedia-7534">[https://en.wikipedia.org/wiki/Bitcoin_Gold Bitcoin Gold - Wikipedia] (Apr 29, 2022)</ref></references>		<ref name="wikipedia-7534">[https://en.wikipedia.org/wiki/Bitcoin_Gold Bitcoin Gold - Wikipedia] (Apr 29, 2022)</ref></references>

Azoundria at 17:19, 17 February 2023

2023-02-17T17:19:42Z

← Older revision		Revision as of 11:19, 17 February 2023
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	{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/bitcoingold51attemptfoiled.php}}		{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/bitcoingold51attemptfoiled.php}}
			{{Unattributed Citations}}

	[[File:Bitcoingold.jpg\|thumb\|Multiple]]This was an unsuccessful 51% attack against Bitcoin Gold. The network was upgraded to reject the hacker's chain due to a tip-off, and avoided any reorganization.		[[File:Bitcoingold.jpg\|thumb\|Multiple]]This was an unsuccessful 51% attack against Bitcoin Gold. The network was upgraded to reject the hacker's chain due to a tip-off, and avoided any reorganization.
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	This is a global/international case not involving a specific country.		This is a global/international case not involving a specific country.
			<ref name="blockthreat-2173" /><ref name="bitcoingold-3002" /><ref name="wikipedia-7534" />

	== About Multiple ==		== About Multiple ==
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	Don't Include:		Don't Include:

	* Any wording which directly states or implies that the business is/was illegitimate, or that a vulnerability existed.		* Any wording which directly states or implies that the business is/was illegitimate, or that a vulnerability existed.
	* Anything that wasn't reasonably knowable at the time of the event.		* Anything that wasn't reasonably knowable at the time of the event.
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	\|-		\|-
	\|July 10th, 2020 12:00:00 AM		\|July 10th, 2020 12:00:00 AM
	\|~~First~~ Event		\|Main Event
	\|~~This is an expanded~~ description of what happened and the impact. If multiple lines are necessary, add them here.		\|Expand this into a brief description of what happened and the impact. If multiple lines are necessary, add them here.
	\|-
	\|
	\|
	\|
	\|-		\|-
	\|		\|
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	== Total Amount Lost ==		== Total Amount Lost ==
	~~The total amount~~ lost ~~is unknown~~.		No funds were lost.

	How much was lost and how was it calculated? If there are conflicting reports, which are accurate and where does the discrepancy lie?		How much was lost and how was it calculated? If there are conflicting reports, which are accurate and where does the discrepancy lie?
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	== Total Amount Recovered ==		== Total Amount Recovered ==
	~~It is unknown how much was~~ recovered.		There do not appear to have been any funds recovered in this case.

	What funds were recovered? What funds were reimbursed for those affected users?		What funds were recovered? What funds were reimbursed for those affected users?
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	== Prevention Policies ==		== Prevention Policies ==
			Which policies could have prevented this event from happening?

	== References ==		== References ==
	[https://blockthreat.substack.com/p/blockthreat-2020-a-year-in-review No Title] (Aug 2)		<references><ref name="blockthreat-2173">[https://blockthreat.substack.com/p/blockthreat-2020-a-year-in-review No Title] (Aug 2, 2021)</ref>

	[https://bitcoingold.org/emergency-update-0-17-2/ Emergency update 0.17.2 \| Bitcoin Gold] (Aug 2)		<ref name="bitcoingold-3002">[https://bitcoingold.org/emergency-update-0-17-2/ Emergency update 0.17.2 \| Bitcoin Gold] (Aug 2, 2021)</ref>

	[https://en.wikipedia.org/wiki/Bitcoin_Gold Bitcoin Gold - Wikipedia] (Apr 29)		<ref name="wikipedia-7534">[https://en.wikipedia.org/wiki/Bitcoin_Gold Bitcoin Gold - Wikipedia] (Apr 29, 2022)</ref></references>

Azoundria: Created page with "{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/bitcoingold51attemptfoiled.php}} MultipleThis was an unsuccessful 51% attack against Bitcoin Gold. The network was upgraded to reject the hacker's chain due to a tip-off, and avoided any reorganization. Not only were the attackers not successful. They lost the funds they spent on mining and any other exchange fees related to the attack. This is a global/internation..."

2023-01-25T17:35:20Z

Created page with "{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/bitcoingold51attemptfoiled.php}} thumb|MultipleThis was an unsuccessful 51% attack against Bitcoin Gold. The network was upgraded to reject the hacker's chain due to a tip-off, and avoided any reorganization. Not only were the attackers not successful. They lost the funds they spent on mining and any other exchange fees related to the attack. This is a global/internation..."

New page

{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/bitcoingold51attemptfoiled.php}}

[[File:Bitcoingold.jpg|thumb|Multiple]]This was an unsuccessful 51% attack against Bitcoin Gold. The network was upgraded to reject the hacker's chain due to a tip-off, and avoided any reorganization.

Not only were the attackers not successful. They lost the funds they spent on mining and any other exchange fees related to the attack.

This is a global/international case not involving a specific country.

== About Multiple ==
"We have just seen an extremely long attack chain of over 1300 blocks on July 10, 2020, against the BTG network which have been mined since July 1, 2020."

"We detected this illicit activity early on and sent alerts to pools and exchanges to protect them; many closed their wallets over a week ago. We also supplied them with BTG version 0.17.2, which included a checkpoint at block 640650, hash 000000059ec8884fa4fbbdbe46c09cfb4ecba281dfa2351a05084e817c1200ae from July 2 at 2am UTC, mined by MiningPoolHub, a known honest block."

"With this block checkpointed, the attacker’s chain could not take over, but this information was not public, and the attacker continued to mine. The attacker mined their secret chain for nearly 10 days, renting power from NiceHash to do so. Today, on July 10, the attacker released over 1300 blocks."

"Because those attacking blocks are anchored at a block mined on July 1st (before the checkpoint), the honest pools and exchanges who are running the updated code automatically rejected the attacker’s chain."

"July 10, 2020 - Bitcoin Gold 51% attempt. Nodes checkpointed after a tip off."

"[A] strong majority of the honest mining pools have already upgraded their code a week ago, and continue to mine on the honest chain."

This is a global/international case not involving a specific country.

The background of the exchange platform, service, or individuals involved, as it would have been seen or understood at the time of the events.

Include:

* Known history of when and how the service was started.
* What problems does the company or service claim to solve?
* What marketing materials were used by the firm or business?
* Audits performed, and excerpts that may have been included.
* Business registration documents shown (fake or legitimate).
* How were people recruited to participate?
* Public warnings and announcements prior to the event.

Don't Include:

* Any wording which directly states or implies that the business is/was illegitimate, or that a vulnerability existed.
* Anything that wasn't reasonably knowable at the time of the event.
There could be more than one section here. If the same platform is involved with multiple incidents, then it can be linked to a main article page.

== The Reality ==
This sections is included if a case involved deception or information that was unknown at the time. Examples include:

* When the service was actually started (if different than the "official story").
* Who actually ran a service and their own personal history.
* How the service was structured behind the scenes. (For example, there was no "trading bot".)
* Details of what audits reported and how vulnerabilities were missed during auditing.

== What Happened ==
The specific events of the loss and how it came about. What actually happened to cause the loss and some of the events leading up to it.
{| class="wikitable"
|+Key Event Timeline - Bitcoin Gold 51% Attempt Foiled
!Date
!Event
!Description
|-
|July 10th, 2020 12:00:00 AM
|First Event
|This is an expanded description of what happened and the impact. If multiple lines are necessary, add them here.
|-
|
|
|
|-
|
|
|
|}

== Total Amount Lost ==
The total amount lost is unknown.

How much was lost and how was it calculated? If there are conflicting reports, which are accurate and where does the discrepancy lie?

== Immediate Reactions ==
How did the various parties involved (firm, platform, management, and/or affected individual(s)) deal with the events? Were services shut down? Were announcements made? Were groups formed?

== Ultimate Outcome ==
What was the end result? Was any investigation done? Were any individuals prosecuted? Was there a lawsuit? Was any tracing done?

== Total Amount Recovered ==
It is unknown how much was recovered.

What funds were recovered? What funds were reimbursed for those affected users?

== Ongoing Developments ==
What parts of this case are still remaining to be concluded?

== Prevention Policies ==

== References ==
[https://blockthreat.substack.com/p/blockthreat-2020-a-year-in-review No Title] (Aug 2)

[https://bitcoingold.org/emergency-update-0-17-2/ Emergency update 0.17.2 | Bitcoin Gold] (Aug 2)

[https://en.wikipedia.org/wiki/Bitcoin_Gold Bitcoin Gold - Wikipedia] (Apr 29)