Ethical Hacker Gains 51% Control of BTCP Live
A so-called ethical hacker by the name of Geocold, pursued a promise to hack an altcoin by 51% yesterday, October 13th. The attack focused on the token, Bitcoin Private, and easily took control of its hash rate, however, the live event was hit with attempts of censorship implemented by streaming sites he utilized.
The Power Of Viewer Report Spamming Can Censor The Internet
According to the hacker, a promise was made to target 51% control of an altcoin in order to show how easy it would be to tap into its system. Although he successfully pulled it off, his attempt did not go as planned. With more than 750 viewers watching the attack live, in addition, to live Twitter reports from Jackson Palmer and others, Twitch took the initiative to bring the spectacle to an end.
Among the many lessons learned from this major hacking event, the power of individuals reporting online activity is apparently a force to reckon with. Although this particular attack was performed by what the industry calls ethical hackers, who perform such activities to make a statement rather than utilize their power for fraud activity such as double spending tokens, the streaming service received a mass amount of report flags from Bitcoin Private users watching the attempted hack. In response, the streaming service provider took the spectacle offline.
Geocold responded to the influx of reports by taking to Twitter claiming that he will either discover a solution enabling him to continue streaming or he will simply upload a recorded video.
After thirty minutes time, the ethical hacker was back on the Stream.me platform for an additional fifteen minutes before succumbing to the power of viewer censorship by way of report spamming. However, during this period, he managed to successfully show the world the extent at which he managed to take control of the altcoin. By the time he was kicked off the streaming site for the second time, Geocold possessed control over the platform’s majority hash-rate and was mining Bitcoin Private blocks with ease.
A Mission To Prove A Point
The hacker since added the nickname, mischief maker, to his Twitter handle as a way of responding to a post issued by news.Bitcoin.com last week. Although he initially announced his plan to target 51% of EMC2, the altcoin’s community managed to avoid the attack by honing in major quantities of hash-power. In response, the ethical hacker proceeded to target Bitcoin Private as the next coin in line to uphold his promise and make a statement to the global crypto community.