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SlowMist Security Firm on a manhunt to attack the Ethereum Classic Attacker
Chinese security study SlowMist he claimed to have sufficient evidence to get his hands on the attacker who recently violated the classic Ethereum network.
The classic Ethereum network suffered a two-day continuous attack on its chain that led to the recognition of the automatic block. SlowMist claims to have sufficient evidence to put his hand on the attacker, specifying three wallet addresses and four transaction hashes behind the two-day attack.
The security company in collaboration with the Coinbase data reached a conclusion that the double spend (where the same bitcoin is spent twice, even if it has already been spent) has occurred due to the recognition of the blocks (almost impossible in a decentralized system environment).
SlowMist believes that a total of seven transactions were withdrawn from the network, leading to a total of 54,200 ETCs worth $ 270,000 spent twice.
When did the attack happen?
The first attack was observed on Saturday at 19:58 UTC, which continued until Tuesday at 4:30 UTC. The attacks are now stopped as confirmed by the developers, but the hunt for the man to track down the culprits is in full swing.
The SlowMist safety study believes that with the accumulated information rally, and with the help of exchanges, the attackers can be located.
There are several exchanges under the scanner that the company believes have been used to implement the attack and, therefore, the security companies have requested their collaboration to capture the culprit.
Gate.io, Bitrue and Binance Under The Scanner?
SlowMist reset Gate.io, Bitrue and Binance to the exchanges that were used to perform the attack. However, the team that examined the issue was limited to providing other important information about the attacks and whether the exchanges that were used for the execution also the attack is under the scanner?
Both Gate.io and Bitrue issued public statements on the subject and claimed that 40,000 ETCs spent twice on Gate i.o and 13,000 ETCs on double spending on Birtue.
Conclusion
The developers of Ethereum Classic are working closely with the SlowMist security company to close the attackers. However, they made it quite clear that no drastic step like reorganizing the chain or restoring events is on the cards.
The recent attack on the network may have reported the horrors of the attack on the DAO in 2016, which was timed perfectly with the Hard-Fork, and then exposing the technical shortcomings on the network. The last attack has made the fork almost negligible and this just before the expected fork of Ethereum Constantinople can leave a huge impact. The recent attacks certainly expose the limits and technical difficulties that the network is facing.
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