Ethereum Classic Faces Third Consecutive Fifty One Percent Attack In A Month

The Ethereum Classic blockchain recently got hit by another fifty one percent attack on 29th August. Notably, this is the third such attack on the ETC network. The attack has led to the reorganization of over seven thousand blocks just weeks after recommending security advancements.

The Ethereum Classic team confirmed the attack in a tweet and promised it is trying to find a possible solution to the issue. The team mentioned:

“While ETC is still making progress in evaluating proposed solutions, we are aware of the current risk to the network at these low hash rate levels. To miners, exchanges, and other service providers we suggest keeping confirmation requirements levels well above 7K for now.”

The attack on the network takes place just a few weeks after developers suggested modifications in the blockchain over the following 3 to 6 months in anticipation of avoiding additional intrusions.

In this month alone, ETC blockchain underwent at least two fifty one percent attacks prior to this latest one. Alarmed at the continuous attacks, few cryptocurrency exchanges including OKEx, even issued a warning to delist Ethereum Classic if security is not taken care of properly.