What are some examples of attacks on blockchain technology?
An example of an AI chatbot conversation about blockchain attack examples.
What are some examples of attacks on blockchain technology?
There are several notable attacks on blockchain technology, including the 51% attack, Sybil attack, and double spending.
Can you explain what a 51% attack is?
A 51% attack occurs when a single entity gains control of more than 50% of the network's mining power, allowing them to manipulate transactions.
What was the impact of the DAO hack?
The DAO hack in 2016 resulted in the loss of $60 million worth of Ether, leading to a hard fork in the Ethereum blockchain.
Are there any recent examples of blockchain attacks?
Yes, in 2021, the Poly Network was hacked, resulting in a loss of over $600 million, although most of the funds were later returned.
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