Gate.io Confirms the ETC 51% Attack
Main page Finance, Ethereum, Cryptocurrency, Hacker Attack
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10 January
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Cryptocurrency exchange Gate.io has officially confirmed the Ethereum Classic (ETC) 51% attack in its research.

According to the research, the attack happened between 0:40 Jan.7, 2019 and Jan 4:20 Jan.7, 2019 UTC for about 4 hours.

"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," states the research.

The exchange claims it will take all the loss for the users.

At the time of writing, ETC is trading at $5.04 (+0.69), and it seems that the coin didn't lose too much in price since the attack.

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