BitPoco, mysterious bitcoin developer is back, and claims they are launching an all-out attack on the Bitcoin Cash (BCH) network. Last Thursday, the anonymous development team claims to have inserted its nodes onto the Bitcoin Cash mainnet, and initiated a “stress test” aginst the world’s fourth-largest cryptocurrency. The move, they claim, will splinter the BCH network.
The week recently came out of a several-week hiatus to announce that they were final-testing the attack. “
“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
BitPico claimed that the Bitcoin Cash was centralized, which leaves it highly vulnerable to a malicious miner or consensus of miners.
“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 and investors be concerned? There is some confusion as to whether BitPico is a hacker at all (just a troll), and if so, a white hat hacker or a black hat hacker.
The confusion comes from BitPico’s rather messy history. The group first appearedduring the debate over SegWit2x, the controversial scaling proposal. After the proposal’s backers withdrew due to lack of community consensus, BitPico claimed it would activate the hard fork anyway, boasting that was in control of 30 percent of the network’s hashrate. However, as CCN reported, that did not happen, and BitPico went underground for a few months.
The group re-emerged in March to claim responsibility for an attack directed at the Bitcoin Lighting Network. This attack was a large denial-of-service (DoS) attack and it occurred shortly after its beta launch. The DoS attack was real, but there was little compelling evidence to prove that BitPico was the group responsible for the attack.
Whether the group’s boasts will be backed by actions or mere bluster remains to be seen. According to BitPico’s stated timeline, the world will know in less than six weeks.