December 2017 has been an unprecedented month for cryptocurrencies. After cracking $10K, Bitcoin is nearing $20K after the launch of Bitcoin futures trading on Cboe and CME. In the aftermath, altcoins like Litecoin, Ripple, TRON, Cardano, Stellar, Bitcoin Cash, and Qtum have experienced massive growth to hit record highs.
Another coin that has been ‘mooning’ this past week is Verge (XVG).
Verge(XVG) is an old privacy coin that is based on anonymity and privacy, the coin uses a system called TOR, to hide the users information and location when using the Verge blockchain.
In the past month, Verge has been on a wild ride, increasing over 2,600% in this last month alone. This was due to the tweet released by John McAfee, telling his followers to buy $VRG.
I did say XVG could possibly rise to $0.15 from the $0.01 that it was at the time, but, for God's sake – never $15.
— John McAfee (@officialmcafee) December 27, 2017
No. Not joking. I included Verge (XVG) because it is a legitimate privacy coin and it is also selling for less than three cents. If you know investing, you know that it is easier for a 3 cent coin to go to 3 dollars, than it is for a $300 dollar coin to go to $30,000 – same rise.
— John McAfee (@officialmcafee) December 14, 2017
Due to these tweets…
Since the tweets, Verge has been on a rocketship upwards. Hitting a high of $0.25 from its start at $0.01, most of the hype came from the exchange Binance. Of course, Verge didn’t maintain the high of 0.25 and subsequently dropped down to 0.15 cents. Although that wasn’t the end of Verge, it has been bouncing back and forth for a week now within its channel. But he has since flip-flopped. He claims that his phone was hacked and that some of the positive claims he made around Verge on Twitter weren’t true. But is that true? Some find it hard to believe a chief cybersecurity visionary who specialises in helping people not get hacked would get his identity stolen. Intrepid members of the cryptocurrency community also claim to have found his positive support for Verge across multiple social accounts, too, adding to the confusion.
Needless to say, the whole situation smells fishy, and it has created some level of fear, uncertainty and doubt (FUD) in the Verge community. This has led to some bearish market conditions, and a less than spectacular rise in the coin’s price following the arrival of the much-touted Wraith protocol.
This is breaking news, earlier today a website started spreading around the internet with a list of leaked IP addresses from the transactions on the Verge network. The website: shows a list of IP addresses with the TX ID for each IP. The list states that it is only able to find the IP address of users who are using the Verge Core protocol, but that Electrum-XVG is coming soon.
Does this mean the person behind this website has a backdoor, or a method to get access to the Verge networks? Or is this information not hidden as it should be? The website claims to be waiting for the next box to get information. A ‘box’ is usually a device that is connected into the network that can pull sensitive data off the said network. Does this user have a physical device that is running on the network, is there is a simple leak somewhere?
What does this mean for the price? Remember, in the beginning of this year, Verge was a 1 man team and was under a penny in price. So there is a very high chance it can go right back to where it was. I’d be cautious and wait for new information to be released.