The Etherecum Classic 51% attacker has allegedly returned the stolen $100,000 to the Gate.io cryptocurrency exchange according to the official blog post of the exchange and now we are reading more about this information in our ethereum news.
Gate.io noted in the official blog post that they tried to contact the attacker but didn’t get any response until now and claim to now know the real reason why the funds have been returned. The company stated:
“If the attacker didn’t run it for profit, he might be a white hacker who wanted to remind people the risks in blockchain consensus and hashing power security.”
A white hat hacker is someone who has a strong knowledge and hacking abilities that are used for good and not for personal gain. It is seen as ‘’friendly security specialist.’’
On January 9, the exchange published their analysis of the attack saying that about 54,000 ETC in total were transferred when the attack occurred. Other crypto exchanges such as Coinbase stated that the total sum of money that is involved in the deep chain reorganization is about $1.1 million worth of crypto.
Gate.io pointed out that the hashrate of the Ethereum Classic network is quite low but it is still possible to rent computing power for another 51 percent attack.
A deep chain reorganization in the ethereum classic blockchain was identified by Coinbase on January 5th and that’s when the company took stocks of a few double spends on the network.
Also the founder of Litecoin Charlie Lee, also declared that decentralized cryptocurrencies need to be susceptible to 51 percent attacks.
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