Cryptocurrency General News

Bittrex delists Bitcoin Gold after failing to repay the hacked coins from double spend attack


Bittrex, a cryptocurrency exchange based out of Seattle has reportedly delisted Bitcoin Gold(BTG). Bitcoin Gold is ASIC resistant and allows a miner to mine Bitcoin with GPU’s and in May the cryptocurrency had a 51% attack which resulted in a loss of $18 million.

In a statement released by the Bitcoin Gold(BTG) team, the cryptocurrency exchange requested the cryptocurrency to take responsibility for its own chain. The exchange asked the Bitcoin Gold Team to repay the 12,372 ($265,000) BTG to cover its losses incurred during the 51% hack.

The exchange reduced the number to 6000 BTG but Bitcoin Gold team refused to pay. The Bitcoin Gold team is a non-profit organization which manages the cryptocurrency. The team does not generate any revenue from cryptocurrency and all the mining rewards go to the miners of the cryptocurrency.

Bittrex delisting the cryptocurrency should have a very minimal effect of the trading liquidity of the cryptocurrency which was stated by the Bitcoin Gold team in a statement.

At press time, Bitcoin Gold has a volume of $8,771,394 and is currently trading at $21.37, according to coinmarketcap a leading cryptocurrency analyst. The Cryptocurrency is currently trading at Bithumb, Bitinka, Bitfinex, HitBTC and many other exchanges.

BTG is currently ranked at the 29th position as per coinmarketcap listing.

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