Ethereum Classic Second Attack $1.68M Out - page 2.

jossiel

hero member

Activity: 2842

Merit: 625

Quote from: r32godzilla on August 08, 2020, 06:02:24 PM

It was a matter of time when this happens and I hope that all of us have lessons learned and won´t keep our investments in PoW coins with declining hashing power like all BTC or ETH forks. They are not supported, used or developed, it only takes your opportunity of having a real BTC and ETH. Cool

It is very sad that there are people who still believe with those BTC forks and think that it will last a lifetime.

They don't know that the same attack in ETC can happen if they will remain on those BTC forks because it is unsafe. I hope that someday they will realize and have a sense of thought that they should keep themselves away from it and just go with the real BTC.

Yaunfitda

hero member

Activity: 2870

Merit: 594

ETC has been plague with history of 51% attack and I don't know how the devs are not working to fix it. And I think they should have learned from this attack and should have done something to prevent it. But no one cares, so the attackers did it again the second time to double spend and create another chain. Good thing that the price hasn't been affected negatively, but still if I'm a ETC investors, I will have doubts and probably move out my coins.

r32godzilla

hero member

Activity: 1360

Merit: 506

It was a matter of time when this happens and I hope that all of us have lessons learned and won´t keep our investments in PoW coins with declining hashing power like all BTC or ETH forks. They are not supported, used or developed, it only takes your opportunity of having a real BTC and ETH. Cool

erikoy

full member

Activity: 686

Merit: 125

This is the problem now with cryptocurrency with these hackers around the crypto funds are not safe anymore. Besides, we do not really know who are these guys or they are related with the team. Who knows these could be also an inside job and there is related law that could protect consmer against these hackers. The hackers are freely to do what they wanted without even getting into prison for every country has different interpretation and could.not affect the exisiting law of the country where the hackers live.

bitcoinst

hero member

Activity: 1708

Merit: 651

SmartFi - EARN, LEND & TRADE

Ethereum Classic Attacker Successfully Double-Spends $1.68M in Second Attack

Ethereum Classic’s second 51% attack Thursday resulted in a massive reorganization of 4,236 blocks and successful double-spend of $1.68 million worth of cryptocurrency, according to an investigation by Bitquery.

The attacker tried to double-spend 465,444 ethereum classic (ETC), worth approximately $3.3 million, but only successfully double-spent 238,306 ETC, worth $1.68 million, according to the report.

An additional 14,200 ETC were also claimed by the attacker via block rewards during the event.
Bitquery found the hashpower required for the attack was probably bought from the same source as for the first attack: Nicehash DaggerHashimoto.

Thursday's attack is the second on the Ethereum Classic platform within five days. The first attack occurred on Aug. 1 and was originally thought to be the result of software complications.
Ethereum Classic Labs, the core development organization behind Ethereum Classic, announced Friday that it has retained law firm Kobre & Kim to investigate and pursue criminal charges against the perpetrators of
both 51% attacks, according to a press release shared with CoinDesk.

https://www.coindesk.com/ethereum-classic-attacker-successfully-double-spends-1-68m-in-second-attack-report

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