Ethereum Classic Developers Hope to Get a Full Picture of a Potential 51% Attack Soon

Ethereum Classic’s (ETC) improvement group admitted a malicious assault on the community had taken place and hopes the complete extent of the incident can be identified quite quickly than later.

According to a minimum of two completely different block explorers, Bitfly and Blockscout, Ethereum Classic noticed greater than 100 blocks “reorganized” throughout a potential 51 p.c assault late Sunday. At the identical time, it was reported on Monday that an irregular hash fee going into a single mining pool had been detected, probably inflicting mass reorganizations (reorgs) of mined blocks.

Ethereum Classic builders initially refuted such claims, nevertheless had to admit a trigger for considerations at a later stage, urging exchanges and mining swimming pools to improve the quantity of transaction confirmations.

In a later deleted twit, ETC builders additionally mentioned that ASIC manufacturing agency Linzhi had confirmed testing of the brand new 1,400/Mh Ethash machines and that no double spends had been detected.

Commenting on the state of affairs, U.S.-based crypto alternate Coinbase wrote:

Coinbase additionally mentioned in its weblog publish that it detected some 88,500 ETC being double-spent (totaling some $460,000).

Moreover, CoinDesk’s reporter Nikhilesh De wrote on Monday night that Linzhi director of operations Wolfgang Spraul refuted claims that Linzhi is concerned within the reorg:

Ethereum Classic responded to Coinbase’s claims saying that the alternate “unfortunately did not connect with ETC personnel regarding the attack.”

On Tuesday morning the builders mentioned that they made “no attempt to hide or downplay recent events,” including that they hope to “get a full picture of what actually took place.”

In response to the deep reorg, Kraken introduced in an incident report that it was rising the quantity of confirmations required to make an ETC deposit. The similar motion was taken by Bitfly.

Poloniex introduced it was disabling ETC wallets, and it doesn’t at the moment have a agency timeline on when they are going to be re-enabled.

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