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Gate.io in a report mentioned today that the 51% ETC striker returned a value of $ 100K of ETC to Gate.io. The exchange tried to contact the aggressor but had no response until now. They still have to find the real reason behind the attack. If the attacker did not have lucrative ends as a further reason, it is plausible that he wanted to make people aware of the risks involved in ishing power security.
The exchange analysis that hashing power is not yet sufficient to prevent another 51% attack. Gate.io has now brought ETC confirmation to 4000. In addition, it has launched a strict 51% detection mechanism for advanced protection. The exchange also urges other ETC exchanges to protect operators from the rollback / reorganization blockchain.
According to https://t.co/VDB3r2cPo6, the attacker of 51% ETC has returned to the ETC a value of $ 100,000. Thanks to the efforts of the ETC community in the last week, this is a perfect ending.@eth_classic @ClassicIsComing
report: https://t.co/CMEdw6hZVs pic.twitter.com/nO3bVj5IFJ– SlowMist (@SlowMist_Team) 12 January 2019
Read also: Reporting: Bitcoin dormant portfolios allegedly manipulate the Crypto Market
The results of 51% of attack and gate.io
The double-expense attack took place from 5 January to 7 January. The attack by Ethereum Classic included at least 15 double-shopping transactions that had suffered at least 219,500 stolen ETCs. The report also reveals that the incident occurred in a four-hour interval between 0:40 am and 4:20 am on January 7th. The researchers also reported that during this period the transactions were confirmed on the blockchain and subsequently invalidated after the damaging network was rolled back. Coinbase was the exchange that originally found the attack.
Gate.io continues to explain that the company censor has successfully blocked harmful transactions at the outset. And he also sent these transactions to the manual inspection.
Slow Mist, the Chinese security company blockchain also confirmed the 51% attack. He also reported that he had taken over the same rollback transactions just like Gate.io. Many major cryptographic companies like Coinbase, Coincheck and BitFlyer temporarily suspended ETC deposits and withdrawals on January 5th.
Read also: Gate. I detect 7 rollback transactions; Confirm 51% attack on Ethereum Classic
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