BitPico to Launch Attack on Bitcoin Cash
The anonymous development team on Thursday claimed to have brought its malicious nodes onto the Bitcoin Cash mainnet, initiating a “stress test” against the fourth-largest cryptocurrency.
That announcement came roughly a week after the group emerged from a several-month hiatus to announce that they were in the final stages of testing for that attack, which they boasted would splinter the BCH network.
“The [bitcoin cash] attack has been started; it will continue to run as we work to amplify it over the coming months,” the group stated. “We expect to have 5000 Bcash attack nodes in roughly 6 weeks and then we will multi-fork the chain. @rogerkver will now cry.”
The #bcash $bch @bitcoin attack has been started; it will continue to run as we work to amplify it over the coming months. We expect to have 5000 Bcash attack nodes in roughly 6 weeks and then we will multi-fork the chain. @rogerkver will now cry ?. #hacking #skills #security pic.twitter.com/dR8ksy6Lz8
— ɃitPico (@bitPico) June 22, 2018
In a statement explaining the attack, BitPico claimed that the Bitcoin Cash was centralized, leaving it vulnerable to a malicious miner such as itself.
“There are only a handful of mining pools and not enough nodes to enforce network rules; isolating majority of these nodes allows us to utilize our own nodes to withhold blocks and/or headers, reject blocks and/or headers, purposefully fail to relay block’s and/or headers and so on.”
Should Bitcoin Cash supporters be concerned? That depends on who you talk to, as many observers aren’t sure whether BitPico is a white hat hacker, a black hat hacker, or — to be frank — even a hacker at all…