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Gate.io Research: Confirmed the ETC 51% attack and attacker's accounts

2019-01-08 10:19:08Read:160675

Gate.io Research confirmed that the ETC 51% attack happened successfully.
In the analysis, Gate.io detected 7 rollback transactions. Four of them were created by the attacker transferred 54,200 ETC in total. The txhash of the for transactions are

0xb5e074866653670f93e9fd2d5f414672df9f5c21baa12b83686e136444796338
0xee31dffb660484b60f66e74a51e020bc9d75311d246f4636c0eabb9fdf161577
0xb9a30cee4ff91e7c6234a0aa288091939482a623b6982a37836910bb18aca655
0x9ae83e6fc48f63162b54c8023c7a9a55d01b7085294fb4a6703783e76b1b492a

It happened between 0:40 Jan.7, 2019 and Jan 4:20 Jan.7, 2019 UTC for about 4 hours. All the transactions were confirmed normally on the ETC blockchain and became invalid after the blockchain rollback. Three of the attacker's ETC accounts are identified as follows:

0xb71d9CD39b68a08660dCd27B3EAE1c13C1267B10
0x3ccc8f7415e09bead930dc2b23617bd39ced2c06
0x090a4a238db45d9348cb89a356ca5aba89c75256

We suggest all platforms to block the transactions from the attacker's accounts.
Gate.io's censor successfully blocked attacker's transactions at the beginning and submitted them to the manual exam . Unfortunately, during the 51% attack, all the transactions looked valid and confirmed well on the blockchain. The examiner passed the transactions. It caused about 40k ETC loss due to this attack. Gate.io will take all the loss for the users.

Gate.io has raised the ETC confirmation number to 500 and launched a new strict 51% detect for enhanced protection. However, we suggest the ETC dev team and the community build a new consensus mechanism (PoS for example) to better protect ETC network from 51% attack.

Gate.io will keep transparency and provide the best services to all the traders.
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Gate.io
Jan. 7, 2019