Unknown Entity Holds Majority Control of Bitcoin SV Network

Bitcoin Satoshi Vision (BSV), has been hit by a serious attack, currently casting doubt among its community as well as the crypto community at large, about the asset’s reliability.

A mining pool, whose origin is currently unknown, has acquired the majority of its hash power. Making the situation worse is the fact that the pool’s control of the network seems to be getting stronger. Coindance data shows that in about ten days, the pool’s hashpower jumped from 675 PH/s t 1535 PH/s.

The person(s) behind the pool could make undesired changes to the network if they choose to.

Currently trading at $218.96, BSV is the sixth-largest digital asset by market cap, with a valuation of $3.09 billion. However, it is one of the market’s most controversial assets. BSV has long been touted by founder Craig Wright as the original Bitcoin plan. But the fact that this happened, is definitely bad for the community.

Craig Wright is also very easily crypto’s most controversial figure. He has repeatedly claimed he is the real Satoshi Nakamoto, the founder of Bitcoin, and has gone as far as bringing legal action to anyone who disagrees.

As February ended, Binance CEO Changpeng Zhao aired his opinion about both Wright and BSV. According to Zhao, Wright is a fraud and anyone who invests in BSV will regret it. Binance delisted BSV in April 2019.