See More

Bitcoin Gold Refuses to Pay Bittrex for Losses, Gets Delisted

1 min
Updated by Adam James
Join our Trading Community on Telegram

In Brief

  • Attacked Altcoin Slated For Removal From Popular Platform
  • promo

Bitcoin Gold (BTG), a distributed digital currency hard-forked from Bitcoin (BTC), will be entirely removed from Bittrex after failing to pay 12,372 BTG to cover the loss the popular cryptocurrency exchange incurred from a May 2018 hijacking.
As noted by The Next Web, Bitcoin Gold was the subject of a 51 percent attack earlier this year, which saw thieves bag more than 388,000 BTC from cryptocurrency exchanges. At the time of the attack, the amount of BTG stolen was worth roughly $18 million in total. Now, Bittrex is slated to remove Bitcoin Gold from its platform for failing to pay 12,372 BTG in order to remain listed. Bittrex

Passing the Blame

The Bitcoin Gold team has also made it clear that it does not take responsibility for the attack. Bitcoin Gold

Altcoin Risks

Regardless of whether or not it is Bitcoin Gold’s fault the attack occurred in the first place, the incident serves as a reminder of the dangers that plague the altcoin market. The attack against Bitcoin Gold was not a particularly expensive one to carry out, as the criminals used rented hash power from NiceHash. Other cryptocurrencies have fallen victim to similar attacks, and it stands to reason that more will be attacked in the future. Market leaders like Bitcoin, meanwhile, are significantly safer — albeit still volatile. Bitcoin Gold Bitcoin Gold is currently ranked 29th by market capitalization. At the time of this writing, BTG is trading at $21.65 per coin — up 1.34 percent over the last seven days. What do you think about Bitcoin Gold’s refusal to pay Bittrex and subsequent delisting? Let us know your thoughts in the comment below! 
Top crypto platforms in the US | March 2024
Coinbase Coinbase Explore →
AlgosOne AlgosOne Explore →
Chain GPT Chain GPT Explore →
iTrustCapital iTrustCapital Explore →

Trusted

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

images-e1706008039676.jpeg
Advertorial
Advertorial is the universal author name for all the sponsored content provided by BeInCrypto partners. Therefore, these articles, created by third parties for promotional purposes, may not align with BeInCrypto views or opinion. Although we make efforts to verify the credibility of featured projects, these pieces are intended for advertising and should not be regarded as financial advice. Readers are encouraged to conduct independent research (DYOR) and exercise caution. Decisions based on...
READ FULL BIO
Sponsored
Sponsored