Ethereum Classic is Under Attack

Ethereum Classic is Under Attack

ETC has suffered a serious attack and currently hindering the growth. ETC is down by more than 8% in the last 24 hours.

Coinbase announced that they have temporarily disabled all sends and receives for ETC however buy and sell is not impacted.


β€œThe Coinbase team is currently evaluating the safety of re-enabling sends and receives of Ethereum Classic and will communicate to our customers what to expect regarding support for ETC,” the company said in a blog post.

Tuesday morning, Kraken exchange also followed up with an update to their customers where they said that a β€œ51% attack appears to be ongoing,” and that ETC deposits and withdrawals have been halted as a result.

Meanwhile, OKEx announced that their team have assessed the situation “and our advanced risk management system is able to maintain market order. Our ETC trading, depositing, and withdrawal will remain open and continue normal operations.” The exchange has temporarily increased the number of confirmations required for depositing to 100 and for withdrawal to 400.