Ethereum Classic Suffers 51% Attack

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Ethereum Classic (Courtesy: Twitter)
Ethereum Classic (Courtesy: Twitter)

Ethereum classic has suffered a major setback as a large 51% attack was carried out on it which caused a reorganization of over 7000 blocks which corresponds to approximately 2 days of mining.

It has been understood that all blocks lost will be removed from the immature balance and they will check all payouts for dropped texts.

“While ETC is still making progress in evaluating proposed solutions, we are aware of the current risk to the network at these low hash rate levels.

To miners, exchanges, and other service providers we suggest keeping confirmation requirements levels well above 7K for now,” Ethereum Classic said in a tweet.