Recent attempts to disrupt the BSV network via large-scale block reorganizations have prompted billionaire philanthropist and BSV advocate Calvin Ayre to personally fund a bounty program aimed at uncovering the perpetrators. As founder of blockchain leader CoinGeek, Ayre is offering significant rewards through the CoinGeek Crime Bounty Program for credible information on these failed attacks.
The program launched on August 6, 2021, just one day after the BSV infrastructure team successfully repelled the third and final attack in a series that began on August 4. This marked the second such incident in under a month, following attacks from June 24 to July 9 involving four malicious block reorganizations. The anonymous miner "Zulupool" is suspected in both campaigns.
“When two versions of the same blocks are mined, the network accepts the longer chain. An attacker with sufficient hash power can outpace honest miners, briefly creating the longest chain to enable double-spends,” explains Kurt Wuckert Jr., Bitcoin Chief Historian.
This brief window allows depositing duplicate BSV on exchanges for fiat, other assets, or currencies—essentially sophisticated theft. However, BSV's advanced detection tools and swift infrastructure response prevented any successful double-spends, neutralizing all threats.
“The Bitcoin Whitepaper states invalid blocks, including those with double-spends, are rejected. Node operators can invalidate fraudulent chains using the invalidateblock command, as endorsed by the Bitcoin SV team,” Wuckert adds.
The rapid follow-up attacks, despite heightened network vigilance, raise questions about motives. Beyond double-spends, rivals may seek to tarnish BSV's reputation as it advances in efficiency and utility. Ayre is committed to investigating thoroughly.
The CoinGeek Crime Bounty Program extends beyond this incident, supporting a secure, regulated cryptocurrency ecosystem for long-term viability. “Crypto-anarchists may resist, but regulation ensures sustainability,” Ayre notes.
Submit tips on BSV attacks via the form, selecting "Report a crime." Rewards are negotiated based on information leading to convictions in the BSV ecosystem.
