Market Analysis

Ethereum Classic Recent 51% Attack – Successfully Double Spending $1.68 Mln Of Asset.

The recent Ethereum Classic [ETC] second 51% attack on 6th Aug. resulted in a massive reorganization of 4,236 blocks and successful double-spend of $1.68 Mln worth of cryptocurrency, consistent with an investigation by Bitquery.

The attacker tried to double-spend 465,444 Ethereum classic [ETC], worth approximately $3.3 Mln, but only successfully double-spent 238,306 ETC, worth $1.68 Mln, consistent with the report.

An additional 14,200 ETC were also claimed by the attacker via block rewards within the ongoing hacking event.

Bitquery found the hashpower required for the attack was probably bought from the same source as for the primary attack: Nicehash DaggerHashimoto.

Thursday’s attack is the 2nd attack on the ETC platform within five days. The primary attack occurred earlier 1st Aug. and was originally thought to be the results of software complications.

Ethereum Classic Recent 51% Attack - Successfully Double Spending $1.68 Mln Of Asset.

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