The nightmare continues: hackers stole hundreds of thousands of dollars during the attack on Ethereum Classic
Source:Today the representatives of Coinbase said about the losses after the reorganization of the blockchain Classic. During hackers managed «earn» about 460 thousand dollars to conduct a double-spend coins ETC. Recall, January 5 the exchange has suspended the cryptocurrency for its platform, so its users do not become victims of swindlers.
thewhat are the vulnerabilities in the blockchain
It is Noteworthy that the situation is still not stabilized and hackers can still influence the Ethereum blockchain Classic. At the time of this writing experts Coinbase was able to identify and confirm nine cases of reorganization of the block chain ETC. Total for all this time, fraudsters managed to spend 88 500 ETC, amounting to approximately 460 thousand dollars at the current exchange rate Aldona.
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:
— Coinbase (@coinbase)
The Attackers managed to capture a large part Hasrat cryptocurrencies, which gave him the opportunity to reorganize the existing blockchain . Because of this, he managed to roll back some of the transactions that have already been confirmed by the network of the coin. After the hacker again spent the same ETC, that is produced a double-spend attack.
Typically the exchange opposed such actions, several times raising the time required to confirm withdrawal/Deposit of funds. After such security measures scammers need to go on a strong economic risk to continue the attack.
Source: CCN
It is believed to reorganize the blockchain of cryptocurrency top with a large hasraton . However, Ethereum is a Classic in 18th place in the ranking of the cryptocurrency, and its market capitalization reaches half a billion dollars. It seems that even large projects can now be compromised.
Regarding the account of recent events: they allegedly detected double spends but unfortunately did not connect with ETC personnel regarding the attack.
This is still very much an ongoing process.— Ethereum Classic (@eth_classic)
Representatives of Coinbase, said that the exchange and its customers have not suffered due to hacker attacks, as the leadership of the company was on time taken. Team Ethereum Classic responded to the tweet Coinbase and assured all in will soon hold a «internal investigation».
Other sites also responded to the situation. For example, Kraken has promised to restore full-fledged work with the coin after solving all the network problems. The trading on the exchange is continuing.
Ethereum Classic (ETC) funding has been disabled due to the ongoing 51% attack on the network. Funding will be resumed when the network's health has stabilized. Trading continues, for now. Follow the incident at the
— the Kraken Exchange (@krakenfx)
Alas, the normal confirmations and comments on the situation directly from the Ethereum Classic is not. The staff made as the probability of double-spending, and testing of new ASIC miners from the Chinese manufacturer Linzhi algorithm Ethash. Supposedly the device 1400 MH/s and with Hasrat network.
To be clear we are making no attempt to hide or downplay recent events.
Facts are facts and as the situation develops we'll soon get a full picture of what actually took place.
Linzhi is testing ASICS. Coinbase reported double spends; both may be true.In time we will see.
— Ethereum Classic (@eth_classic)
As a 51% attack the network ETC touched you? Discussed .
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