ALTCOIN VERGE HACKED FOR SECOND TIME IN TWO MONTHS, AROUND $1.4 MLN STOLEN

The world of cryptocurrency, while promising decentralization and financial freedom, is unfortunately no stranger to security breaches and exploits.This week, privacy-focused cryptocurrency Verge (XVG) found itself in the headlines once again for all the wrong reasons.In a disheartening turn of events, Verge has been hacked for the second time in just two months, resulting in the theft of approximately 35 million XVG coins, currently valued at around $1.4 million. Cryptocurrency Verge has been hacked again this week, with 35 mln XVG currently worth around $1.4 mln stolen. Altcoin Verge hacked for second time in two months, around $1.4 mln stolen EcosystemThis latest incident raises serious concerns about the security and robustness of the Verge network, and it underscores the persistent challenges faced by altcoins in protecting themselves against increasingly sophisticated cyberattacks. Altcoin Verge Hacked-Again-Around $1.4 Mln Stolen The anonymity-centered cryptocurrency has been hacked for the second time in two months, this time losing 35 mln in XRG (now worth around $1.4The hack has undoubtedly shaken investor confidence and prompted a critical examination of the measures Verge is taking to safeguard its ecosystem.

The incident highlights the vulnerabilities that can exist within blockchain networks, even those that claim to prioritize privacy and security.It serves as a stark reminder that the cryptocurrency space is still evolving, and ongoing vigilance and innovation are crucial to mitigating risks and maintaining trust within the community.For Verge, this second major hack in such a short timeframe is a significant setback, demanding immediate and decisive action to restore credibility and rebuild confidence among its users and investors.

Understanding the Verge (XVG) Hack

To fully grasp the significance of this latest security breach, it’s essential to delve into the specifics of what transpired and how it impacted the Verge network.Reports indicate that the hack occurred over a period of a few hours, during which the attackers managed to steal a substantial amount of XVG.It’s worth noting that, according to a report by TRM Labs, over $1.38 billion worth of crypto had already been stolen by hackers this year, compared with $657 million in the same period in 2025, highlighting the ever-increasing scale of crypto theft. Altcoin Verge Hacked For Second Time In Two Months, Around $1.4 Mln StolenThis isn't an isolated issue; it's a growing trend within the digital asset landscape.

Details of the Attack

While the precise technical details of the exploit are still emerging, the core issue seems to revolve around vulnerabilities in the consensus mechanism, allowing attackers to manipulate the blockchain and create fraudulent transactions. Hackers had stolen more than $1.38 billion worth of crypto by J, compared with $657 million in the same period in 2025, TRM Labs said in a report.The attack led to a significant drop in the value of XVG, with the price plummeting by over 14 percent in the 24 hours following the announcement.CoinMarketCap data shows XVG trading at around $0.041, making the stolen amount equivalent to around $1.4 million.This financial loss, while substantial, is only one aspect of the damage. Privacy-focused cryptocurrency Verge has been the victim of another hack, in which 35 mln XVG were stolen over a period of a few hours, The Next Web reportedThe erosion of trust and the potential long-term impact on the viability of Verge are equally concerning.

Before the hack, Verge tweeted that their mining pools were under a DDOS attack on May 21, noting that they were working to resolve it.It's unclear if the DDOS attack and the subsequent hack are related.DDoS attacks are frequently used as diversionary tactics before a larger attack.

• Amount Stolen: 35 million XVG
• Estimated Value: Approximately $1.4 million
• Impact on Price: Over 14% drop in 24 hours
• Reported by: Cointelegraph, The Next Web, Bitcoin Insider and other news outlets.

The Second Blow: A Repeat Offense

What makes this event particularly alarming is that it represents the second time Verge has been targeted in a similar fashion within a short span of two months.This pattern suggests that the underlying security issues have not been adequately addressed, despite previous incidents. Altcoin Verge Hacked-Again-Around $1.4 Mln Stolen. The anonymity-centered cryptocurrency has been hacked for the second time in two months, this time losing 35 mln in XRG (now worth around $1.This raises questions about the effectiveness of Verge's security protocols and the measures taken to prevent future attacks. I didn't know that Verge was hacked, are you sure about that? Altcoin Verge Hacked For Second Time In Two Months, Around $1.4 Mln Stolen verge is totallydeadThe repetition of the hack is a serious indictment of Verge's security infrastructure and its ability to protect its users' funds.

The fact that the attackers were able to exploit the network again so soon after the first incident indicates a significant failure in the response and remediation efforts. Altcoin Verge Hacked-Again-Around $1.4 Mln Stolen The anonymity-centered cryptocurrency has been hacked for the second time in two months, this time losing 35 mln in XRG (now worth around $1.4 mln) over a period of a few hours.It is crucial for Verge to conduct a thorough and transparent investigation into the root causes of both attacks and to implement comprehensive security upgrades to prevent similar incidents from happening in the future.

Lessons from the First Hack

After the first hack, the Verge team likely implemented certain security measures to prevent future attacks. Privacy-focused cryptocurrency Verge (XVG) has been the victim of another hack, in which 35 mln XVG were stolen over a period of a few hours, The Next Web reHowever, the recent breach suggests that these measures were either ineffective or incomplete. According to Cointelegraph Altcoin Verge Hacked For Second Time In Two Months, Around $1.4 Mln Stolen. Verge tweeted that their mining pools were under a DDOS attack on May 21, noting that they were working to resolve it:It's important to analyze what went wrong and identify the gaps in the security strategy. Skip to main content Bitcoin Insider. MenuSome potential weaknesses could include:

• Inadequate code review and testing
• Insufficient monitoring of network activity
• Lack of robust intrusion detection and prevention systems
• Slow response to identified vulnerabilities

How Did the Hack Happen?Analyzing the Technical Vulnerabilities

While official details are still unfolding, the underlying vulnerability exploited in the Verge hacks likely lies within its consensus mechanism. Posted by u/Cointelegraph_news - 1 vote and no commentsOne potential point of weakness is the use of multiple mining algorithms, which are intended to increase decentralization and prevent dominance by a single mining pool. Altcoin Verge Hacked-Again-Around $1.4 Mln Stolen. The anonymity-centered cryptocurrency has been hacked for the second time in two months, this time losing 35 mln in XRG (now worth around $1.4 mln) over a period of a few hours.However, this complexity can also introduce vulnerabilities if not implemented and maintained correctly.

Attackers may have exploited weaknesses in how these algorithms interact, potentially gaining the ability to manipulate timestamps or create fraudulent blocks. XVG is currently down by a little over 14 percent over a 24 hour period to press time, trading at around $0.041 according to data from CoinMarketCap, which makes the hack currently equal to around $1.4 mln.By controlling the mining process, they could then generate large amounts of XVG without actually contributing to the network's security.

Potential Attack Vectors

Here are a few potential attack vectors that could have been used:

1. 51% Attack: Although unlikely, a successful 51% attack would grant the attacker control over the blockchain, allowing them to reverse transactions and double-spend coins.
2. Timestamp Manipulation: Exploiting vulnerabilities in the timestamping mechanism to create blocks with inaccurate timestamps, potentially enabling the creation of invalid blocks.
3. Algorithm Switching Vulnerabilities: Exploiting flaws in the way Verge handles different mining algorithms, allowing attackers to manipulate the difficulty and hash rate to their advantage.

Understanding the specific technical details of the exploit is crucial for developing effective countermeasures and preventing future attacks. Verge diretas 2 kali dalam sebulan sekitar $ 1,4 juta di XVG yang dicuri.The Verge team needs to conduct a comprehensive audit of its codebase and infrastructure to identify and address any remaining vulnerabilities.

The Impact on the Cryptocurrency Community

The repeated hacks on Verge have far-reaching implications for the broader cryptocurrency community.These incidents not only harm Verge users but also contribute to a negative perception of altcoins and the overall security of blockchain technology.They serve as a cautionary tale for other projects, highlighting the importance of prioritizing security and conducting rigorous testing.

The incidents raise questions about the viability of privacy-focused cryptocurrencies.While privacy is a desirable feature for many users, it can also make it more difficult to track illicit transactions and prevent malicious activity.Balancing privacy with security is a significant challenge that all privacy coins must address.

Erosion of Trust

The most significant impact of the hacks is the erosion of trust in Verge and the cryptocurrency market as a whole.Investors and users are likely to become more cautious about investing in or using cryptocurrencies that have a history of security breaches.This can lead to a decline in adoption and hinder the growth of the cryptocurrency ecosystem.

Verge must take concrete steps to restore trust by being transparent about the details of the attack, implementing robust security measures, and providing compensation to affected users.Failure to do so could result in the permanent loss of confidence in the project.

What is Verge Doing to Address the Issue?

Following the second hack, the Verge team has issued statements acknowledging the incident and assuring users that they are working to resolve the issue.However, specific details about the steps being taken to address the vulnerability and prevent future attacks have been limited.Transparency and open communication are critical in such situations.

The Verge team needs to provide a clear and detailed explanation of what happened, how the vulnerability was exploited, and what measures they are taking to fix it.They should also engage with the community and solicit feedback on their proposed solutions.

Potential Remediation Steps

Here are some potential remediation steps that the Verge team could take:

• Conduct a thorough security audit: Engage a reputable security firm to conduct a comprehensive audit of the Verge codebase and infrastructure.
• Implement robust intrusion detection and prevention systems: Deploy systems to monitor network activity and detect and prevent malicious attacks.
• Improve code review and testing processes: Implement stricter code review and testing processes to identify and address vulnerabilities before they can be exploited.
• Increase transparency and communication: Keep the community informed about the progress being made to address the security issues.
• Consider a hard fork: A hard fork could be necessary to implement significant changes to the consensus mechanism and address the underlying vulnerabilities.

The Future of Verge: Can It Recover?

The future of Verge is uncertain.The repeated hacks have significantly damaged its reputation and raised serious questions about its viability.Whether Verge can recover depends on its ability to address the security issues, restore trust in the community, and continue to innovate.

The road ahead will be challenging.Verge will need to overcome the skepticism of investors and users and demonstrate that it is committed to security and innovation.It will also need to differentiate itself from other privacy coins in a crowded market.

Factors Influencing Recovery

Several factors will influence Verge's ability to recover:

• Effective Security Measures: Implementing robust security measures that can prevent future attacks is crucial.
• Community Support: Maintaining the support of the Verge community is essential for the project's long-term success.
• Innovation: Continuing to innovate and develop new features that enhance privacy and usability is important for attracting new users.
• Market Conditions: The overall health of the cryptocurrency market will also play a role in Verge's recovery.

Verge's future hinges on its ability to learn from its mistakes, take decisive action to address its security vulnerabilities, and regain the trust of its community.The road to recovery will be long and arduous, but with dedication and a commitment to security, Verge can potentially overcome this setback and emerge as a stronger and more resilient cryptocurrency.

What Can Crypto Investors Learn From This?

The Verge hacks serve as a valuable lesson for all cryptocurrency investors.They highlight the importance of diversifying investments, conducting thorough research, and understanding the risks involved in the cryptocurrency market.Here are some key takeaways:

• Diversify Your Portfolio: Don't put all your eggs in one basket.Diversify your cryptocurrency investments across multiple projects to reduce your risk.
• Do Your Research: Before investing in any cryptocurrency, research the project thoroughly.Understand its technology, team, and security measures.
• Assess Security Risks: Evaluate the security risks associated with each cryptocurrency.Look for projects that have a strong security track record and are transparent about their security measures.
• Use Secure Wallets: Store your cryptocurrencies in secure wallets, such as hardware wallets or multi-signature wallets.
• Stay Informed: Stay up-to-date on the latest news and security threats in the cryptocurrency market.

By following these guidelines, investors can mitigate their risks and make more informed decisions in the cryptocurrency market.

Conclusion: The Importance of Security in Cryptocurrency

The second hack of altcoin Verge, resulting in the theft of approximately $1.4 million, serves as a stark reminder of the critical importance of security in the cryptocurrency space.This incident underscores the vulnerabilities that can exist within even privacy-focused cryptocurrencies and the need for continuous vigilance and innovation to combat increasingly sophisticated cyberattacks.The impact extends beyond financial losses, eroding trust in Verge and the wider cryptocurrency community.The Verge team faces a monumental task in restoring its reputation and demonstrating a commitment to enhanced security measures.Ultimately, this event emphasizes the need for investors to exercise caution, conduct thorough research, and prioritize security when navigating the ever-evolving landscape of digital assets.The ability for users to trust a cryptocurrencies ability to protect them is paramount, and incidents like this can damage the reputation of the entire industry.

Key takeaways from this event include the need for robust security audits, implementation of advanced intrusion detection systems, and a commitment to transparent communication with the community.For Verge, the path to recovery hinges on addressing its security vulnerabilities, rebuilding trust, and showcasing a renewed commitment to innovation.For the broader cryptocurrency community, this incident reinforces the importance of diversifying investments, conducting thorough due diligence, and prioritizing security above all else.