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
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:
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.
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Jan. 7, 2019