Ethereum Classic Allegedly Hit By 51% Attack

On August 1, the Ethereum Classic network crashed. On one of the blocks, the chain underwent a reorganization, 3600 blocks were affected. As a result, this led to the desynchronization of the nodes and the division of the network into two chains. A 51% attack is assumed to have occurred.

In one of the reports, the developers of Ethereum Classic stated that the reorganization could have been the result of an offending miner who briefly lost access to the Internet while mining. At the moment, all possible scenarios are being checked. Exchanges need to suspend deposits and withdrawals in ETC, some have already blocked transactions.

Recall that in 2019, hackers managed to carry out a 51% attack on the Ethereum Classic network. At that time, the damage amounted to $1.1 mln — the criminals managed to steal 219.5 thousand ETC.

Image courtesy of Portswigger