Ethereum Classic experiences 3,693 block-long reorg

  • In Business
  • 2020-08-01 15:24:26Z
  • By External Contributor

Ethereum Classic has experienced a possible blockchain reorg of 3,693 blocks. Cryptocurrency miner Bitfly was first to identify the reorg, which was later confirmed by both Binance and Ethereum Classic development firm, ETC Core.

It is unclear whether this reorg was malicious according to the diagnosis report released by the ETC Core team.

"It could be that the offending miner has lost access to internet access for a while when mining, which led to a 12 hour mining period and about 3000 blocks inserted," the team said in their report.

It is also unclear whether an attacker has profited from this reorg, but Bitfly has advised all exchanges to halt deposits and withdrawals. Today's reorg is not Ethereum Classic's first. In 2019, the smart contract blockchain experienced a hundred plus long reorg attack that enabled the attacker to double spend 88,500 ETC, worth approximately $460,000 at the time of the attack.

© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.


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