Verge has been hit by a massive 560,000-block reorganization.
Users should not make transactions at this time.
A 51% attack occurs when a miner (or miners) acquires more than 50% of the network's mining hash power and takes control of the network.
A solution being implemented to safeguard against so-called 51% attacks on the Ethereum Classic (ETC) network may not be as secure as suggested, according to a new analysis.
Market onlookers are scrabbling for a new narrative as some argue last week's tech rout might explain bitcoin's latest price drop.
The leading organization supporting the Ethereum Classic network hopes to better safeguard against future 51% attacks by going after platforms that rent out hashing power.
August has been an awful month for Ethereum Classic as the blockchain suffered yet another 51% attack.
Shaken by weeks of network-overwhelming hacks, ETC Labs has outlined its security response.
OKEx admitted a total loss of approximately $5.6 million from the recent Ethereum Classic 51% attacks and could delist ETC from its exchanges.
Ethereum Classic's recent 51% attacks highlight the value of large open-source networks such as Bitcoin and Eth – it’s about more than hashrate.
The attacker attempted to double-spend roughly $3.3 million during the second attack.
Ethereum Classic has suffered a 4,000-block-long reorganization, its second such incident in five days. The first attack, which saw more than 3,000 blocks reorged, had an attacker steal more than 800,000 ETC, worth about $5.6 million.
Developers advise exchanges to pause ETC deposits and withdrawals.
A 51 percent attack on Bitcoin Gold was unsuccessful.
The two attacks last Thursday saw over $87,000 in the cryptocurrency double spent.