[Crypto projects](https://revain.org/projects/) › Verus

# Verus (VRSC): how it works, supply and reviews

## In short

- **Type**: Layer-1 blockchain with connected PBaaS chains (4 chains in the ecosystem)
- **Maximum supply**: 83,540,184 VRSC
- **Risks and caveats**: The Ethereum bridge contract was exploited in May 2026 and again later; Verus said in September 2026 that work on the bridge contracts and an extra witness check was still under way.
- **Checked**: 31 October 2026

## Key facts

- **Ticker**: VRSC
- **Official site**: [verus.io](https://verus.io/)

Key facts checked on 31 October 2026 against official sources.

## What is Verus

Verus (VRSC) is a community-developed proof-of-work and proof-of-stake blockchain launched on 21 May 2018 with no ICO, premine or developer fee. It builds identities (VerusID), currencies, DeFi and connected chains (PBaaS) into the protocol and runs a bridge to Ethereum.

## Network and consensus

| Parameter | Details |
|---|---|
| Type | Layer-1 blockchain with connected PBaaS chains (4 chains in the ecosystem) |
| Consensus | Proof of Power: 50% proof-of-work, 50% proof-of-stake |
| Launched | 21 May 2018 (mining began 15 minutes after the announcement) |
| Mining | CPU, phone and ARM mining (VerusHash); merge-mining of up to 22 chains |
| Smart contracts | Currencies, DeFi, identity and data are protocol functions validated by every node, not separate application contracts |
| Privacy | Optional zk-SNARK private transactions |

## Supply and issuance

| Parameter | Details |
|---|---|
| Maximum supply | 83,540,184 VRSC |
| Initial distribution | No premine, ICO, founder, VC or developer allocation; all VRSC mined or staked |
| Staking rewards | Staking with any amount, no minimum, funds stay unlocked |

On 31 October 2026: 81,019,846 VRSC in circulation (source: [verus.io intro page](https://verus.io/intro)).

## What VRSC is used for

- Mining and staking rewards that secure the chain
- Fees for conversions and VerusID registrations in liquidity baskets
- Reserve currency in the Bridge.vETH basket with ETH, DAI and MKR

## Who develops and governs Verus

- **Developer**: Community-developed, funded by donations; no company or VC allocation controls the network
- **Governance**: Development and governance grew through miners, stakers, developers and the community
- **Open source**: Code and releases on GitHub (VerusCoin)
- **Core contributors**: Michael Toutonghi is named in official updates for bridge verification work

## History

| Date | Event |
|---|---|
| 21 May 2018 | Verus launched with 15 minutes' notice and no premine, ICO or developer fee. |
| December 2019 | VerusID activated on mainnet. |
| May 2023 | PBaaS and protocol-level DeFi went live. |
| October 2023 | The Verus-Ethereum bridge launched with the Bridge.vETH basket currency. |
| 17 May 2026 | The Ethereum bridge was exploited; about 26.6% of the ETH and tBTC in the Ethereum contract was lost after partial recovery. |
| 7 July 2026 | The v1.2.17 bridge restoration and recovery upgrade activated across all chains. |

## Security and audits

- In 2026 the Ethereum-side bridge contract was exploited twice; Verus says both attacks used differences between how the Verus daemon and the Ethereum contract read the same data.
- Verus released a series of critical security upgrades from July to September 2026 after AI-assisted and human audits, ahead of an Ethereum contract upgrade.

## Security incidents

| Date | What happened | Source |
|---|---|---|
| 4 December 2023 | Account compromise: Verus disclosed that attackers posing as journalists used a Discord session-hijack link to take over the account that owned the Verus Discord server, removed the admins and posted scam links; Verus says no funds on the Verus network or in Verus wallets were affected. | [medium.com](https://medium.com/veruscoin/discords-session-hijack-vulnerability-and-verus-community-s-response-c2e9238ca08a) |
| 17 May 2026 | Bridge exploit: An attacker exploited the Verus-Ethereum bridge contract with an output the contract read differently from the Verus daemon. Cross-chain imports and exports with Ethereum were paused; v1.2.17 (activated 7 July 2026) rebalanced the affected vETH and tBTC.vETH currencies. Funds returned: Verus says that after some asset recovery the network lost about 26.6% of the ETH and tBTC held in the Ethereum contract; on 21 May 2026 it posted bounty terms for the exploiter to return funds. | [github.com](https://github.com/VerusCoin/VerusCoin/releases/tag/v1.2.17) |

Further incidents are reported by third parties (press, incident databases) but are not confirmed in the company’s own channels, so they are not listed here.

## Official VRSC contracts

| Network | Contract address |
|---|---|
| Ethereum | [0x71518580f36FeCEFfE0721F06bA4703218cD7F63](https://etherscan.io/address/0x71518580f36FeCEFfE0721F06bA4703218cD7F63) |

Verus-Ethereum bridge contract linked from verus.io as 'View Ethereum contract'; VRSC itself is a native coin.

## Risks and caveats

- The Ethereum bridge contract was exploited in May 2026 and again later; Verus said in September 2026 that work on the bridge contracts and an extra witness check was still under way.
- The home page says Verus is 'built without vulnerable smart contracts'; that refers to the Verus chain, while the Ethereum side of the bridge is a Solidity contract.
- Node operators were repeatedly asked to install critical or mandatory security upgrades in 2026.

## Official links

- Website: [verus.io](https://verus.io/)
- Docs: [docs.verus.io](https://docs.verus.io)
- Source code: [github.com/VerusCoin](https://github.com/VerusCoin)
- Block explorer: [insight.verus.io](https://insight.verus.io)
- Blog: [medium.com/veruscoin](https://medium.com/veruscoin)

## Questions and answers

**What is Verus?**

Verus (VRSC) is a community-developed proof-of-work and proof-of-stake blockchain with built-in identities, currencies, DeFi and connected chains, launched on 21 May 2018.

**Who created Verus?**

Verus launched with no company, ICO, premine or developer fee and is developed by its community with donations; official updates name Michael Toutonghi among contributors to the bridge work.

**What is the maximum supply of VRSC?**

83,540,184 VRSC; about 81,019,846 VRSC were in circulation on 31 October 2026 according to verus.io.

**Was the Verus bridge hacked?**

Yes. The Verus-Ethereum bridge contract was exploited on 17 May 2026; Verus says that after partial recovery about 26.6% of the ETH and tBTC held in the contract was lost. A second exploit followed later in 2026.

**How does Verus consensus work?**

Verus uses Proof of Power, a 50% proof-of-work and 50% proof-of-stake hybrid; anyone can mine with a CPU or phone or stake any amount.

## Sources

- [Verus — home page](https://verus.io/)
- [Verus — What is Verus?](https://verus.io/intro)
- [Verus — Milestones](https://verus.io/milestones)
- [Verus — Ethereum Bridge](https://verus.io/ethereum-bridge)
- [Verus — FAQ](https://verus.io/faq)
- [VerusCoin GitHub — release v1.2.17 (3 July 2026)](https://github.com/VerusCoin/VerusCoin/releases/tag/v1.2.17)
- [VerusCoin GitHub — release v1.2.17-3 (1 August 2026)](https://github.com/VerusCoin/VerusCoin/releases/tag/v1.2.17-3)
- [VerusCoin GitHub — release v1.2.18 (17 September 2026)](https://github.com/VerusCoin/VerusCoin/releases/tag/v1.2.18)
- [Verus — Ethereum bridge exploit writeup (Google Docs)](https://docs.google.com/document/d/1R5kxmTa01gHJ5V7XdjyFphG_q5V02mtkyK7lOR6lV3w/edit)
- [Verus on X — terms to the bridge exploiter (21 May 2026)](https://x.com/VerusCoin/status/2057465214975492358)
- [Verus Medium — August 2026 Verus View](https://medium.com/veruscoin/august-2026-the-verus-view-6fbf8c1bcf61)
- [Verus Medium — September 2026 Verus View](https://medium.com/veruscoin/september-2026-the-verus-view-6e84f74663ed)
- [Verus Medium — Discord session hijack (4 December 2023)](https://medium.com/veruscoin/discords-session-hijack-vulnerability-and-verus-community-s-response-c2e9238ca08a)

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Page updated: 2026-10-31

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Source: https://revain.org/projects/veruscoin/