Ethereum Classic is again under attack by 51%


Ethereum Classic cannot escape the nightmare, as it suffers the second attack of 51% in just one week. What is happening?

Ethereum Classic under attack
Ethereum Classic suffers a second 51% attack in one week, after more than 4,000 blocks were rearranged in the Blockchain this morning.

This time the attack was reported by Bitfly, the company behind the mining group Ethermine, via Twitter.

„Today there was another major attack of 51% in the #ETC that caused a reorganization of more than 4000 blocks. Until further notice, ETC payments are off and we encourage all our miners to switch to #ETH in the meantime,“ he said.

Binance also reported today that all Bitcoin System Classic payments, withdrawals and deposits would be suspended as a result of the attack.

A similar attack was reported on Aug. 1 that gave the attacker more than $5 million in stolen funds and, apparently according to Bitquery, only cost the hacker $200,000.

So today, before Bitfly made the announcement, the developers behind Ethereum Classic noted in a tweet that crypto exchanges and mining groups will „significantly increase confirmation times on all deposits and incoming transactions“ in light of „recent attacks on the network.

Ethereum Classic in review

Will Portnoy cause a major shortage of Bitcoin?
As we reported from CryptoTrend, Dave Scott Portnoy asked the Winklevoss twins to please explain how to buy all the existing Bitcoins.

„I officially invite the Winklevoss twins to my office, to explain Bitcoin,“ he wrote on Twitter. Obviously the brothers rushed to accept the request and the social networks got excited about it.

Without a doubt, more and more people are deciding to join the crypto world and Bitcoin. Who will be next?