Hacker recovered part of the stolen coins Ethereum Classic☝

Hacker recovered part of the stolen coins Ethereum Classic☝

The hacker responsible for 51% attack on the blockchain of cryptocurrency Ethereum Classic (ETC), recovered part of the stolen coins ETC in the amount of $100,000. The attacker transferred the money to the crypto currency exchange Gate.io and did not comment on their actions.

Staff Gate.io tried to contact an unknown hacker, however, he refused to answer questions from the exchange. That is why many experts believe that a 51% attack on the Ethereum network Classic were worn educational character: the programmers, in practice, demonstrated the vulnerability of the Protocol consensus "proof of work" (Proof-of-Work).

The official report Gate.io refers to the following: "January 10, we returned to the coin ETC, stolen in the course of a 51% attack on the blockchain Ethereum Classic. We contacted the organizers of the attack, but still have not received a response. Apparently, a hacker has performed a 51% attack is not out of selfish motives, and to remind people about the vulnerabilities of the blockchain".

Staff Gate.io warn that such incidents may repeat in the future as rental of computing power to 51% attack is relatively inexpensive. According to the portal Crypto51, h 51% attacks on the Ethereum network Classic will cost only $7.276. For comparison: the hour of the attack on the blockchain of Bitcoin (BTC) will cost $238.854.

To combat a 51% attack Gate.io has increased the required number of confirmations for transactions ETC to 4.000, and increased security. Manual cryptocurrency exchanges encourages the developers of Ethereum Classic to take measures to protect the blockchain from REOorganization unitsin order to eliminate the possibility of double spending of digital assets.

Cryptocurrency analyst, Mati Greenspan was skeptical about the act of the unknown hacker. He recalled that as a result of a 51% attack with exchange Coinbase was stolen coins ETC in the amount of $1.1 million. The money is still in the hands of criminals, so to speak of the good intentions of attacking too early.

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