An operator of the Ethereum Classic mining pool he confirmed that a 51% attack hit the ETC network on 7 January. This attack refers to a malicious attack on blockchain when hackers got more than 50% of network hashrates.
We can confirm that there was a 51% successful attack on Ethereum Classic (#ETC) network with more than 100 years of reorganization of the blocks. We recommend that all services monitor the chain closely and significantly increase the confirmations requested.
– Bitfly (@etherchain_org) January 7, 2019
Hackers have the ability to reorganize blocks and even replace them on blockchain, moreover the perpetrators are able to "double" the coins, ie the same coins can be transferred several times.
The rumors that ETC suffered an attack by hackers originally appeared on CoinNess, the Chinese magazine on January 6th. The report says that SlowMist, the Chinese security company blockchain, was the first to notice the attack.
The article reads:
"The ETC community immediately followed the development of the incident and learned that there is a private pool of miners … which achieves more than 50% of the network hashrate at certain times".
The Ethereum Classic spokesperson replied on Twitter, saying the network "Functioned normally".
There were rumors of a possible chain reorganization or double expense attack.
From what we can say that the ETC network works normally.
The "Reorg" section of BlockScout does not show anything whatsoever. Https: //t.co/Yi2cXusCz9 pic.twitter.com/HdUtS0DJZK
– Ethereum Classic (@eth_classic) 6 January 2019
However, in a few hours, the representative asked all the mining pools of "It allows a significantly higher confirmation time on withdrawals and deposits (+400)."
For all exchanges and mining pools, please allow significantly higher confirmation times on withdrawals and deposits (+400)
cc @OKEx @ExchangeXGroup @HuobiGroup @digifinex @binance @bitfinex https://t.co/m5cxcKBVXa
– Ethereum Classic (@eth_classic) January 7, 2019
Later, without any confirmation or commentary, the official report of Ethereum Classic retweeted the report of the Chinese magazine.
On 7 January, the cryptocurrency exchanges Coinbase published a report that claims to have detected this attack on January 5th. Mark Nesbitt, Coinbase Security Engineer, who wrote that report, said that since the disclosure of malicious attacks, there have been 8 chain reorganizations worth about $ 460,000.
Ethereum Classic has refuted Coinbase's report, arguing that the later did not "Connect with ETC personnel regarding the attack".
regarding @coinbase account of recent events: presumably they detected double spend, but unfortunately did not connect with ETC staff regarding the attack.
This is still an ongoing process. https://t.co/in1OGdV8T9– Ethereum Classic (@eth_classic) January 7, 2019
While it is still unknown who was the first to detect the malicious attack and what are its consequences, we want to remind you
The Dark Overlord threatens to reveal the truth of September 11 attacks unless a ransom in Bitcoin is redeemed
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