NEWS CRYPTO.. Ethereum Classic’s 51% Attacker Had Mysteriously Sent Back $100,000 To Gate.io Exchange

Barely one week after a 51% assault on the Ethereum Traditional blockchain, the attacker has unusually returned a part of the stolen funds to Gate.io, based on a latest article posted by the crypto change.

The assault was carried on Jan 7, 2019, and researchers at Gate.io acknowledged that the attacker transferred a complete of 54,200 ETC, approx $250,816.191 at press time. Gate.io additionally offered three ETC pockets addresses supposedly utilized by the hacker whereas advising different crypto exchanges to dam any transaction from the addresses.

Gate.io, who promised to compensate its clients for his or her loses, has reported as we speak that they obtained $100okay value of ETC from the attacker on Jan 10. Nonetheless, they have no idea the explanation for the refund neither have they heard from him.

“We discovered that the latest ETC 51% attacker returned 100okay USD worth of ETC again to Gate.io. We had been attempting to contact the attacker however we haven’t acquired any reply till now,” Gate.io stated.

Potential Purpose for the Refund

In line with Gate.io, if the attacker doesn’t attempt to take the revenue, then it’s potential that he’s a white hacker who simply needed to attract the eye of individuals to the underlying dangers in “blockchain consensus and hashing energy safety.”

This might be true as Gate.io’s researchers consider that the “hashing energy” of ETC blockchain just isn’t as sturdy appropriately and hackers might simply lease hashing energy for one more 51% assault.

Nonetheless, the change has elevated the variety of ETC affirmation from 500 to 4000 as a approach of enhancing its 51% safety mechanism in opposition to future assaults.

As beforehand reported, US-based crypto change Coinbase had a special story, stating that it discovered 88,500 ETC ($410okay at press time) in double spending and chain group. ETC, nevertheless, denies saying that it was a 51% assault and no double spend has been detected.

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