Ethrereum Classic Attacked Again
Our attentive readers will remember that quite recently, at the beginning of August, we wrote about the attack on the Ethereum Classic coin network. Then there were no serious consequences, the users’ money did not suffer. Unfortunately, personal data fell into the hands of scammers. And in that article we talked about the importance of this attack. The fact is that the hacking of the system showed that Ethereum Classic is vulnerable and open to new hacking attempts. And so it happened, hackers attacked the cryptocurrency again. Further – important information about an unpleasant event and recommendations that will help save your funds. Let’s get started.
What is known at the moment
Give credit to the developers of Ethereum Classic. The experts analyzed the nature and essence of the previous attack. However, this did not help prevent further hacking attempts. But first things first. According to the published report, the reason for the last work stoppage is precisely the 51% attack. Unknown hackers rented enough equipment to load the system and create a new version of the Blockchain. The network was divided into two branches, the depth of the hacking was about 3693 blocks. Let us recall that the cybercriminals did not get the users’ money. However, among the consequences are such troubles as mining failures and the publication of confidential information of ETH Classic clients. To eliminate the consequences, as well as preventive measures, the creators of the cryptocurrency spent about $ 5.6 million. But even such large sums could not protect ETH Classic from new attacks.
In the course of their work, a lone hacker or a group of criminals used $ 192,000 worth of purchased equipment. As we understand it, the scammers thoroughly and extensively approached the attack. Most likely, the OKEx cryptocurrency exchange was involved in dishonest work, through which the load on the ETH Classic system was carried out. However, it is almost impossible to make any accusations against the site, since the user worked as usual, making many private transactions. That is why the developers failed to notice and prevent dangerous translations in time. But when the situation was taken under control, the hacker disappeared and again attacked ETH Classic. It is possible that another attacker is behind today’s attack. But the fact remains – ETH Classic has been hacked again.
What is the creator of Ethereum Classic doing?
Last time, the creators of the coin asked to pause transfers and postpone mining for now. Developers today are more radical. All transactions are frozen to prevent the hacker from withdrawing the stolen funds and making money from hacking. The principle of the attack remained unchanged – again a heavy load on the system and a split of the Blockchain. But already by 4000 blocks, which is much more dangerous than the previous attack. Companies, including exchanges and wallets, are not yet transferring ETH Classic. So don’t be surprised at transaction delays. So far, there are no specific figures regarding the extent of the damage caused. The developers will have to eliminate the consequences of the hack, take the necessary measures and only then proceed to assess the consequences.