Ethereum Classic’s Price Crashes as Network Comes Under Attack
Ethereum Classic lost more than 10% of its value today with price standing just above $1 as the network comes under sustained dos attack. The attacks are similar to those experienced by Ethereum over last month. A programmer is exploiting gas mispricing for certain op codes to drain nodes of memory and other resources thus slowing them down. Who or why is a matter of speculation. For ETC, considering the dramatic price movement, it could well be financially motivated and might not even be the original attacker, but a copycat. Ethereum Classic’s Price Crashes as Network Comes Under Dos....
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Ethereum protocol hit by another DOS attack, the second one in less than a week! Ethereum is definitely heading towards trouble. The promising blockchain-based smart contracts protocol has been facing a lot of issues in the recent days, the latest one being yet another DOS attack. A brief alert about the latest DOS attack was published earlier yesterday on Ethereum’s blog. The alert statement reads, “URGENT ALL MINERS: The network is under attack. …a computational DDoS, i.e. miners and nodes need to spend a very long time processing some blocks. …due to the EXTCODESIZE opcode, which has a....
Krypton, Ethereum-based network, has recently recovered from a 2-step attack which resulted in a total of 21,465 KR, approximately $3000 USD, being stolen from Bittrex’s wallets. The Krypton team suspects that the attack might have been just a test: attackers might go for other Ethereum-based blockchains such as ETC, for example. How the attack happened. According to a press release by Stephanie Kent, Krypton’s Founder, and Rocky, cryptocurrency trader, investor and analyst, attackers used Double-Spending to steal the KR from Bittrex. After the attack, all deposits and withdrawals on both....
Ethereum Classic is preparing another hard fork. It was announced in statements published last week that the project’s development and mining community is committing to a change in its monetary policy by December of this year. Essentially a move to a new protocol, all current Ethereum Classic users and miners should have upgraded their software by then. If everyone does not upgrade their software, the project can split into two incompatible networks, blockchains and currencies. Of course, that is exactly how Ethereum Classic itself broke away from the Ethereum Foundation’s Ethereum last....
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.
It is evident for everyone to see this is not an effort representing the entire Ethereum community. Unfortunately, every single supporter will be caught in the crossfire of repercussions that will undoubtedly follow these attacks, Over the past few days, there have been various rumors regarding an impending 51% attack against the Ethereum Classic network. Although some earlier attempts remained nothing but speculation, 51Pool is forging ahead with its plans to destroy the ETC network. This goes to show how some people in the Ethereum community respond when the going gets tough. Ever since....