ETC 51% Attack
On August 1, Ethereum Classic (ETC) suffered two 51% attacks that led the ETC community to question security on the network.
In the first attack, OKEx was used to carry out various operations with ETC, although this was no longer valid when the attackers made double spending on the ETC network.
Although OKEx reimbursed the lost ETC by users (about $ 5.6 million), the security of the network remained in question.
According to OKEx, there was a lack of communication with other components of the ETC network, and all this has led OKEx to consider eliminating ETC unless the security and stability of its network is improved.
“The exchange will consider delisting ETC, pending the results of the Ethereum Classic community's work to improve the security of its chain.”
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