Is a 51% hashrate attack coming? ETC abnormal blocks are rolled back!

This evening, "Ethereum Classic_ETC", operated by the Ethereum Original Chain Promotion Association, posted a Weibo post saying that it had detected a suspected 51% attack on ETC and that many blocks had been rolled back.

This evening, Ethereum Classic_ETC, operated by the Ethereum Original Chain Promotion Association, posted a Weibo post saying that a suspected 51% attack on ETC was detected, and many blocks were rolled back (suspected double-spending attack).

According to its Weibo, the Ethereum Classic (ETC) security team SlowMist Technology detected abnormal block rollbacks since yesterday and issued an early warning. The ETC community immediately followed up on the development of the incident and learned that a private mining pool (address: 0x3ccC8F7415e09BEAd930dc2B23617bD39ceD2C06) had a computing power of more than 50% of the total network computing power at certain times.

Its Weibo said that team member Roy@Bitcoindoguncle has been closely monitoring the development of the incident with other team developers. So far, the ETC network has not been substantially affected, and we are not clear about the purpose of the perpetrator. In order to prevent potential attacks, we call on exchanges, mining pools, etc. to increase the confirmation time of deposits and withdrawals (+400) until the warning is lifted.

In addition, the official Twitter account of Ethereum Classic (ETC) stated that there are rumors that a double-spending attack may occur. However, as far as it knows, the ETC network is operating normally.

Although Ethereum Classic has not officially responded to the block rollback, it is now certain that Ethereum Classic is unstable: the block rollback has increased the deposit, transaction and withdrawal time. Of course, the specific network failure losses and the results of this attack can only be known after Ethereum officials issue an official statement.

To prevent financial loss, we recommend not trading ETC coins until the issue is resolved.

Qianke will also continue to pay attention to this abnormal fluctuation, and will share the latest news with everyone as soon as possible.