Ethereum Classic was hacked for the third time in a month

By TimTom | Crypto Tim | 31 Aug 2020


The Ethereum Classic block chain was again attacked 51%, this time 7,000 blocks were reorganized.

According to Bitfly, another hack occurred on Saturday, August 29th, just weeks after the crypto currency team began developing ways to improve network security at low hash rates. Previous attack took place on August 6.

In the official announcement, representatives of Ethereum Classic said that they are aware of the restructuring and are actively working to solve the problem, and recommended that miners, stock exchanges and other service providers associated with the ETH should set the confirmation level well above 7,000 blocks.

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The team's previously proposed measures to protect against hacking include establishing interaction with mining pools, strengthening network control, creating a "white list" of addresses, and introducing arbitration to prevent uncoordinated block chain reorganization.

Despite serious problems with network security, traders have practically not responded to the next attack since the price ETC follows the general trend in the crypto market, and at the time of release is $6.67 USD.

 

 

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TimTom
TimTom

I am a passionate cryptographer, I just love this stuff... :-)


Crypto Tim
Crypto Tim

I write about Cryptocuresies and news from the Crypt industry.

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