Representatives Of The Gate.io said that the exchange will cover losses on approximately 40 thousand ETC (about $200 thousand) incurred by the users due to the ongoing «attack 51%» on the Ethereum blockchain Classic.
[https://t.co/8kWqgDWNXb Research] confirms the ETC 51% attack.
4 of the 7 transactions rollback detected were created by the attacker; transferring 54,200 ETC in total.
Gate will be covering the 40k ETC loss for all of the users.
See details: https://t.co/BhEYHZyP3z pic.twitter.com/pSXrsZrc7q
— gate.io Exchange (@gate_io) 8 January 2019 R.
In his blog, the company confirmed that «the attack 51%». In addition, the exchange has listed three addresses controlled, in her view, the attacker:
«Gate.io originally was able to successfully block the transaction of the attacker, sending them to manual review. Unfortunately, during the attack, all the transactions look valid, and was successfully confirmed in the blockchain, write the representatives of the exchange. — The reviewer missed transaction. This resulted in the loss of around 40 thousand ETC during the attack. Gate.io will take all the losses»user
Information about the attack was confirmed by the crypto currency exchange Coinbase. Monday, January 7, it announced revealed double spends as a result of a deep reorganization of the blockchain Ethereum Classic.
On 1/5/2019, Coinbase chain detected a deep reorganization of the blockchain Ethereum Classic that included a double spend. In order to protect customer funds, we immediately paused movements of these funds on the blockchain ETC. Read more here: https://t.co/vCx89dz44m
— Coinbase (@coinbase) January 2019 7 R.
That attack is still ongoing, said the company also Bitfly.
Take care, the Ethereum Classic #ETC network is still being targeted by a 51% attack. Today we saw again 3 deep chain reorganizations: https://t.co/QXjaGROQew
— Bitfly (@etherchain_org) 8 January 2019 R.
According to the head Blockscout Andrew Cravero, he «100 percent» sure that was a double waste of the Ethereum blockchain Classic. He noted that the reorganization occurred between blocks 7261495 and 7261496. Waste 26 000 ETC happened on the block 7261492, and then on 7261497.
He also added that it is unlikely that these dramatic events associated with the testing of ASIC devices.
«If I tested new hardware, hardly used $100 thousand per transaction», — he added.
The opinion of Cravegna agree the developer of Ethereum Classic Donald McIntyre. According to him, the incident is a classic example of «attack 51%».
McIntyre is a supporter of amending the PoW-algorithm mining Ethereum Classic. He is confident that this step is necessary in the short term and it may prevent further reorganization of the blockchain. McIntyre also added that ETC-the developers are working to resolve the problem.
Journal ForkLog, in turn, continues to monitor developments.