Exchange Says 51% Attacker Returned $100K-Worth of Ethereum Classic

Digital currency trade Gate.io said Saturday that $100,000 in ethereum great has been returned following an ongoing hack.

In a declaration, the trade additionally said it endeavored to contact the 51-percent assailant, yet has not gotten any answer up until now, including:

“Despite everything we don’t have the foggiest idea about the reason. In the event that the aggressor didn’t run it revenue driven, he may be a white programmer who needed to help individuals to remember the dangers in blockchain accord and hashing power security.”

The trade cautioned that the hashing intensity of ETC organize is “still not sufficient” and that another 51 percent assault is as yet conceivable. As of press time, ETC is exchanging at $4.34, as indicated by information from CoinMarketCap.

A week ago, Gate.io affirmed it had lost around 40,000 ETC (worth almost $200,000 at the time) in a 51 percent assault – an occurrence where in excess of 50 percent of a blockchain’s processing power is totaled and controlled by one association to change the system’s exchange history and possibly to twofold spend digital forms of money.

The trade at the time recognized three tends to that it said were fixing to the assailant being referred to. In its Saturday post, the trade said that it has propelled a “strict 51% recognize for improved security.”

Another crypto trade, Bitrue, additionally affirmed it was influenced by the 51-percent assault. As per its official Twitter account, the assailant had attempted to pull back 13,000 ETC yet had been halted by its framework.

China-based security firm SlowMist originally identified the 51 percent assault and definite the occasion in a blog entry on Wednesday a week ago, and said it was ready to work with Gate.io, Bitrue, and Binance so as to find the aggressor.

Reference: coindesk.com

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