Share this article
Security Firm Asks Exchanges to Help It Find Ethereum Classic 'Attacker'
Security firm SlowMist has come out with a public analysis of the latest chain attacks seen on ethereum classic.
Updated Sep 13, 2021, 8:44 a.m. Published Jan 9, 2019, 4:51 p.m.
Make us preferred on Google
China-based security firm SlowMist has claimed that it has enough evidence to locate the culprit behind recent chain attacks on ethereum classic.
In a Medium article published Wednesday, SlowMist summarized the bulk of their analysis on ethereum classic, specifying the three wallet addresses and four transaction hashes that launched the two-day block reorganization (reorg) attacks on the network. The company also corroborated information released by cryptocurrency exchange Coinbase.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Both SlowMist and Coinbase said double spends have occurred as a result of block reorgs, with SlowMist contending that a total of seven transactions were rolled back from the network and 54,200 ETC (almost $270,000) spent a second time.
Affirming that these attacks to have started as early as Saturday 19:58 UTC, the company highlights that similar attacks on the network have now stopped, with the last documented one occurring Tuesday at 4:30 UTC.
SlowMist further said that it is still seeking to find out where exactly the identified addresses are located, which the firm said can be deduced "if the relevant exchanges are willing to assist."
Speaking to CoinDesk, SlowMist identified Gate.io, Bitrue and Binance as the exchanges they’re looking to work with in order to locate the attacker.
When asked to elaborate on the exact information beyond geography SlowMist is looking to identify about those behind the attack, the team responded in an email they could not disclose such information, calling it "a secret."
Both Gate.io and Bitrue have issued public statements on their official Twitter accounts claiming 40,000 ETC and 13,000 ETC in double spends on their respective exchange platforms.
Ethereum classic developers are working closely with the SlowMist team to identify the origin of these attacks and will be meeting today during a private Discord call at 5 p.m. UTC to discuss actionable items moving forward.
In advance of this meeting, ethereum classic developers tweeted a summary of current priorities for the community, emphasizing that "we will not reorg the chain or revert the events on chain under any circumstance."
Map image via Shutterstock
Wolfie Zhao contributed reporting.
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
HYPE token's 50% surge is a story of crypto-traditional market convergence, treasury firm says
HYPE has surged 50%, outperforming bitcoin, ether and the CoinDesk 20 index by a big margin.
What to know:
- Hyperliquid's HYPE token has surged more than 50% to $34.57 this week, far outpacing bitcoin, ether and the broader crypto market, as trading activity on the platform accelerates.
- The token rally represents the merging of traditional assets with the crypto world, according to Hyperion DeFi, which is a HYPE treasury company.
- Originally a crypto perpetuals exchange, Hyperliquid has expanded into tokenized trading of equity indices, individual stocks, commodities and major fiat pairs via its HIP-3 upgrade.
Top Stories
