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Thread: Ethereum Classic Reportedly Suffers '51 Percent Attack'

  1. #1

    Ethereum Classic Reportedly Suffers '51 Percent Attack'

    Coinbase, a cryptocurrency exchange, has suspended trading of the distributed ledger technology platform Ethereum Classic after it reportedly suffered a "51 percent attack" to gain control of a majority of the platform's network, CNBC reported Jan. 8.

    More at: https://worldview.stratfor.com/situa...percent-attack
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  3. #2
    Never saw that coming. Why would anyone launch a 51% attack? That's impossible. Doesn't make any sense. Tis not practical.
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  4. #3
    and the Sun will rise tomorrow.

    The cost to 51% attack a small coin is peanuts. Try it with Bitcoin.

  5. #4
    Quote Originally Posted by idiom View Post
    Never saw that coming. Why would anyone launch a 51% attack? That's impossible. Doesn't make any sense. Tis not practical.
    With bitcoin? I dunno.. This was ethereum classic.. not even ethereum..
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  6. #5
    I don't mine Eth classic but it is still the #18 crypto in marketcap according to coinmarketcap, around 400 million value.

    The attack gained $271,500 according to one report

    Someone made a handy website to show the theoretical cost of a 1 hour attack on a coin. This is provided you could rent enough equipment to do it, or had the spare capacity sitting around. Not as easy or as cheap as the website shows.

    https://www.crypto51.app/
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