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Fork Ethereum Classic suffered from attack 51%

Last night a team of developers to fork Ethereum Classic admitted that the network of cryptocurrency was made of the so-called “attack of 51%”. Tellingly, in cryptosuite information about the attack came nearly a day before the official statement, but the team denied this information.

But after the service BlockScout updated information and indicated on the reorganization of units in Ethereum Classic, the team appealed to the exchanges and mining pools with a request to raise the number of confirmations of transactions in withdrawal and depositing at least 400.

Simultaneously, there were reports that a notice about the problems in Ethereum Classic was distributed by a Chinese company SlowMist. Unusual growth Hasrat ETC was due to the activity of unnamed private mining pool.

On Monday evening the Ethereum team Classic announced that found a plausible explanation of what happened. According to them, the culprit was a producer of ASIC miners Linzhi Shenzhen, which allegedly has already confirmed that it carried out the testing of new devices for the algorithm Ethash with exponent 1 400/Mh. In turn the operating Director of the Linzhi Shenzhen Wolfgang Sproule in the media has denied of any involvement in the incident.

Also representatives of Ethereum Classic insist that we are not talking about the attack 51%, but rather about the so-called selfish mining, and that instances of double-spending coins, which often carried out the attack 51% was observed.

The crypto currency exchange Coinbase announced that a deep reorganization of the blockchain Ethereum Classic was seen on 5 January, which was carried out double-spending. Exchange instantly stopped the movement of these funds, and then recorded eight additional cases of reorganization of the chain. The total amount came under attack 51% of the funds, according to Coinbase, was 88 500 ETC ( about $460 000).

As of Tuesday morning, January 8, Ethereum Classic is trading around $4.90 and lost during the day nearly 8%.


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