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Exchange Says 51% Attacker Returned $100K-Worth of Ethereum Classic

Published 01/14/2019, 02:00 AM
Updated 01/14/2019, 03:15 AM
© Reuters.

Cryptocurrency exchange Gate.io announced Saturday it has received $100,000 worth of ethereum classic (ETC) back from a recent chain attacker.

In an announcement, the exchange further said it tried to contact the 51 percent attacker but has not received any reply so far, adding:

“We still don't know the reason. If the attacker didn't run it for profit, he might be a white hacker who wanted to remind people of the risks in blockchain consensus and hashing power security.”

Last week, Gate.io confirmed it lost about 40,000 ETC (worth nearly $200,000 at the time) in a 51 percent attack – an incident where more than 50 percent of a blockchain's computing power is aggregated and controlled by one organization to change the network's transaction history and to double-spend cryptocurrencies.

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