Privacy-focused blockchain network Verge (XVG) has experienced a significant block reorganization, replacing transactions dating as far back as July 2020. Despite being described as potentially “the deepest reorg that has ever taken place in a top 100 cryptocurrency,” analysts are yet to confirm that the incident comprised a coordinated attack. Coinmetrics chief operating officer Antoine Le Calvez was one of the first to notice the reorg, sharing a screenshot on Twitter showing that at least 560,000 blocks had disappeared on Feb. 15. Looks like $XVG (Verge) experienced a massive 560k+ blocks reorg.@coinmetrics' node is on a new chain whose last …

Block reward halvings cut the rate at which new coins are generated on a given blockchain by 50%. Such events, known jokingly as “halvenings,” have long been anticipated by cryptocurrency traders as catalysts for pushing up the price of their cryptocurrency holdings. Past attempts to predict when Bitcoin’s (BTC) price would increase in relation to halvings have proved inconsistent at best. However, few would be willing to quickly discount the mechanisms described in the law of supply and demand. All things being equal, as the number of coins available on the market decreases, the demand for those coins — and …

Verge (XVG), the cryptocurrency now infamous for its links to the porn industry, is on the up again — thanks to a classic fiat money scandal. As adult entertainment giant Pornhub confirmed this week, payment providers Visa and MasterCard are no longer servicing its payments, leaving only cryptocurrency for its roughly 120 million daily visitors. "Crushing news" for Pornhub The reason, the companies say, is questions which remain over Pornhub’s handling of illegal content. For MasterCard, the block is permanent, while Visa will continue to monitor its decision. Responding, Pornhub told the Associated Press that the allegations were “irresponsible and …

Verge (XVG) has seen a 33% pump in the 24 hours following Paypal’s move to pull the plug on the adult entertainment website Pornhub. XVG — whose creators struck a deal with Pornub back in April 2018 — has skyrocketed in value since the PayPal news broke on Nov. 14, as Coin360 data shows. XVG price 7-day chart. Source: Coin360 168% increase in 24h trade volume The XVG network uses anonymity-focused networks such as Tor and I2P, as well as additional layers of encryption to bolster security. It ranks 66th largest cryptocurrency by market capitalization globally and is trading at …

Swiss decentralized payment startup TokenPay has acquired a large number of shares in an Australian lingerie giant, a document originally issued on March 19 reveals. According to the filing, TokenPay purchased 1,840,216 shares of Naked Brand Group’s (NAKD) common stock, a 6.2 percent stake. The company has various brands on the market, perhaps the best-known of which is supermodel Heidi Klum’s Intimates line. Explaining the impetus behind its choice of spending and subsequent area for development, TokenPay revealed NAKD had in fact suggested it was curious about blockchain technology. “Why the move into lingerie? $NAKD management has expressed interest in …

United States Attorney for the Eastern District of New York Richard P. Donoghue unsealed a nine-count indictment against Patrick McDonnell today, according to a press release from the Department of Justice (DoJ) on March 26. Following his arrest earlier today, McDonnell — the owner and operators of purported investment firm CabbageTech — was charged with nine counts of wire fraud in connection with an alleged plan to defraud cryptocurrency investors. Donoghue said in the press release: “As alleged, the defendant defrauded investors by making false promises and sending them fraudulent balance statements, hiding the fact that he was stealing their …