Ethereum Classic 51% Attack: Over $1.1M Stolen Due To Mining Pool Exploit

Ethereum Classic, one of the most popular forks of the second most valuable cryptocurrencies by marketcap has suffered a 51-percent attack.

After Chinese blockchain security firm SlowMist raised the alarm, an analyst at CoinNess dug a little deeper. The analyst found that a private mining pool had managed to increase its hash power to 3,263 GH/s, making it – temporarily – the most powerful mining pool at around 11:00am UTC on 6 January.

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