Ethereum Classic

3,693 “extra” blocks were mined in the Ethereum Classic network

On the morning of August 1, the Ethereum Classic network split – 3,693 “extra” blocks were mined in it. Researchers assume that this was a 51% attack, but no malicious transactions were identified.

Researcher Hudson Jameson was the first to notice the unusual situation in the Ethereum Classic blockchain , and a little later the attack was confirmed by the official cryptocurrency account. Jameson called for stopping deposits and withdrawals to cryptocurrency platforms.

Analysts Yaz Khoury, Sam Johnson and Austin Roberts analyzed the situation. According to them, the following happened – a large mining pool 2Miners was turned off for technical work, and at that time one single miner mined 3,693 “extra” blocks. 

After that, the Ethereum Classic network split – miners with Parity and OpenEthereum clients continued to work in the original chain, and Core-Geth miners switched to a new chain with additional blocks. A little later, Parity miners also switched to this chain.

According to analysts, it is unlikely that this was done on purpose, although such a possibility is not ruled out. They emphasize that no double-spend transactions have been identified to date. Most likely, the network will continue to work with additional blocks, since no malicious operations were detected in them.

After discovering the problem, the Poloniex cryptocurrency exchange froze asset trading. However, other large sites, including Binance, did not freeze trading, suspending only the acceptance of deposits and the withdrawal of this cryptocurrency. Recall that at the beginning of 2019, the Ethereum Classic network was already undergoing a 51% attack.

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