For the past 9 months now, Bitcoin Gold Project has been facing severe misfortune, the controversy started ever since the project was announced. Recently, the Seattle-based trading platform lost over 12,000 BTG during the network’s 51% attack, and the firm had asked the BTG development team to compensate them for the loss.
Lot of articles have been published on the numerous controversies faced by this same project. When the project came to limelight, it was first announced to be an “ASIC Resistant” which utilizes a consensus algorithm called Equihash.
Unluckily for them, the project has been facing constant issues and contentious announcements like the development team choosing to claim a pre-mine before launch, and article published some months back also revealed that a third party wallet allegedly took control over people’s key, and afterwards, stole all the funds from the wallet.
Not too long ago, sometime in May, another report came in proving that Bitcoin Gold is not and has never been an ASIC Resistant because the network was only manipulated in a 51% attack.
As at the time of the hack, exchanges such as Binance, Bitinka, Bitfinex, Bittrex, Bithumb, and Hitbtc also fell victim to the hack event. The lost funds resulted in a total loss of around 388,000 BTC or $18M USD. Bittrex alone lost about 12,372 BTG. However, the Bittrex team asked the BTG team to compensate them with that same amount of BTG they had lost in the hack, of which they refused to, so they Bittrex team decided to delist BTG, entirely from the platform.