Cryptocurrency exchange KuCoin has announced delisting of the Ethereum Classic (ETH) cryptocurrency due to the frequent 51% attacks on the mainnet.
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The exchange says it decided to exclude ETH from the margin trading to protect users' experience.
"Due to the instability of the current ETC network and to ensure users’ margin trading experience is not negatively affected, KuCoin will delist the ETC trading pairs from the Margin market," the exchange wrote in an official announcement.
According to KuCoin, Ethereum Classic lending will be closed at 18:00 on August 8, 2020 (UTC+8). In addition, ETC auto-borrowing will be unavailable, though the interest will continue to count after the due day, so please repay ETC on time.
Users can still transfer ETC from other accounts to repay, KuCoin claims.
Meanwhile, Ethereum Classic Labs (ETC Labs), the main development organization behind the Ethereum Classic ecosystem, announced that it has entered into a cooperation with analytical firms CipherTrace and Kobre & Kim to work with authorities to investigate and pursue criminal charges against the perpetrators and related parties of recent attacks on the Ethereum Classic blockchain.
iHodl earlier reported that Ethereum Co-Founder Vitalik Buterin proposed Ethereum Classic to switch to Proof of Stake (PoS) than rely on current Proof of Work (PoW) consensus algorithm.
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