Ethereum Classic (ETC Network Under Attack)! Stock Exchanges Suspend Deposits And Withdrawals

The ETC network faces a 51 percent attack. So what does that mean?

Kraken, the crypto currency exchange, made a number of statements about Ethereum Classic (ETC) at 23.57. It was announced that the ETC network, which was frequently brought to the agenda with a 51 percent attack, and was delisted by some stock exchanges for this reason, is under attack again.

In the ETC network, where the same situation was experienced a few months ago, the attackers stole $ 9 million worth of ETC in this way and the identities of these people could not be identified. Faced with the same situation again, Kraken and some exchanges suspended ETC deposits and withdrawals to prevent ETC from being seized by attackers.

A 51 percent attack is the name given to a person or group capturing more than 50 percent of network control in the blockchain network. The group, which alone gains 51 percent of the network’s processing power, can perform some manipulative actions on the network. Coins that are exposed to this situation, which often happens to blockchains with a small number of miners; They can be copied, reproduced and transferred to wallets for free.

Join our Telegram Channel coinputin for latest cryptocurrency news and discussions..
Leave a Reply