Uh-oh 😲

Crypto exchange Coinbase has suspended all Ethereum Classic (ETC) transactions due to a series of blockchain history reorganizations on the network. Ethereum classic saw more than 100 blocks “reorganized” during a potential 51% attack late Sunday. 

SlowMist - a China-based security firm - first alerted users of the peculiar activity occurring on the network, stating that its team was trying to trace the cause of the attack. Blockscout project lead Andrew Cravenho affirmed that although the last recorded reorg attack was seen recently, the reorg may have begun before being noted on Blockscout. 🙈

In response to the deep reorg, crypto exchange Kraken announced in an incident report that it was increasing the number of confirmations required to make an ETC deposit. Bitfly exchange likewise took this action. Poloniex exchange then announced it was disabling ETC wallets, and it does not currently have a firm timeline on when they will be re-enabled. 

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How about your view toward 51% attack? @charmmytashi 

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Every large attack from the attacker must be backed up by adequate cost and under consideration of the risk, during the attack,the countervailing traceability costs of money laundering after the attack. 

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@charmmytashi #2

Every large attack from the attacker must be backed up by adequate cost and under consideration of the risk, during the attack,the countervailing traceability costs of money laundering after the attack.

 Too much bug too much safety~~~

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