This past week Ethereum Classic suffered not one, but two 51% attacks. The culprits were able to make off with millions as a result. While this doesn’t directly cause the underlying network to slow, due to the attacks this cryptocurrency’s confirmation times have increased drastically. Exactly how bad have these attacks hurt ETC? Crypto As…
Ethereum Classic suffered a 51% attack last weekend, the second such attack in less than two years. Initial investigations at the time showed no evidence of double-spending. Ethereum Classic (ETC) price drops after reports of a 51% attack. (Source: TradingView.com) However, almost a week on, further investigations have revealed that the attacker managed to double-spend…
Ethereum Classic suffered a 51% attack in the early hours of August 1st. A blog post from the ETC Cooperative said attackers flooded the network with offline mined blocks. As a result, the network was unable to process the volume of transactions, leading to a reorganization of the chain and split between nodes. “Miner 0x75d1e5477f1fdaad6e0e3d433ab69b08c482f14e…