Ethereum Classic has published a major update on the events of last week. In the last days, the project has gradually admitted that the recent suspicious activity of blockchain was actually caused by an attacker.
Now, Ethereum Classic announced that a security company is becoming very close to capturing the author. Yesterday on Twitter, the project stated that "SlowMist claimed to have sufficient evidence to identify the culprit of recent chain attacks," stating the contents of a recent Coinbase article.
SlowMist closes on Attacker
Between 5 and January 8, Ethereum Classic underwent a thorough chain reorganization. The SlowMist safety study initially noticed the phenomenon and a handful of exchanges subsequently observed the effects of the event.
Gate.io, Bitrue and Coinbase quickly returned funds stolen or doubly spent in their activity registers. Although these sources claimed that an attack was underway, Ethereum Classic refused to make a judgment. SlowMist, on the other hand, started investigating the situation immediately.
Since January 9, SlowMist has worked with exchanges and developers to identify the aggressor. SlowMist himself did not make an announcement about his findings, but the announcement of Ethereum Classic indicates that something big is probably coming.
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Hacker returns funds
Two days before Ethereum Classic made its most recent announcement, Gate.io reported that the attacker had returned $ 100,000 of ETC to his exchange. Gate.io has suggested that the attack may have been carried out by a non-profit white-hat hacker. The exchange also indicated that he was trying to contact the aggressor, but received no response.
It is possible that the attacker was directly motivated to return the funds after he was told that the SlowMist investigation was closing. SlowMist itself called the funds returned are a "perfect ending" for the events of the week and have implied that "community efforts" have been involved.
Ethereum Classic remains divided
Perhaps not surprisingly, the ordeal has made Ethereum Classic more divisive than ever. Many have opposed the cryptocurrency since they separated from Ethereum, and those critics are astonished by the fact that the currency has been able to maintain its reputation and market value in the face of a major attack.
Meanwhile, supporters believe the attack has been well managed, and some are becoming more confident with the reasonably good market performance of the currency. The controversy has not yet killed ETC, and if SlowMist announces the results of its investigation, the image of the currency can only improve.