Beleaguered Ethereum Classic (ETC) blockchain suffered yet another 51% attack on August 29. The latest attack caused the reorganization of over 7,000 blocks and this corresponds to approximately two days of mining. At the time of reporting, it was not clear if there had been any double-spending as was the case in the last attack. In that attack, it was reported that the Okex exchange suffered a loss of $5.6 million directly as a result.
A statement revealing the attack adds that “all lost blocks will be removed from the immature balance and we will check all payouts for dropped transactions.”
Meanwhile, in their initial comments on the latest attack, developers working on ETC are attributing ongoing attacks to the network’s known vulnerabilities.
“ETC is ~3% of the overall ETH network hash rate. We are well aware of potential repeated attacks while solutions such as “reorg caps” and the subsequent ECIPs are being tested and evaluated. If you haven’t already please increase (which most have) please raise confs above ~10K,” reads a…