THELOGICALINDIAN - Cryptocurrency barter Okex reveals it suffered the 56 actor accident as a aftereffect of the doublespend agitated out by the attackers in Ethereum Classic 51 advance Okex says it absolutely captivated the accident as per its userprotection action while insisting that the advance did not account any accident to the platforms users
Also as allotment of its actual responses to the attack, the OKEx aggregation said the “exchange had abeyant deposits and withdrawals of ETC to anticipate added losses.”
A absolute of bristles accounts on the barter had been acclimated in the advance and now the Okex aggregation says it has “suspended the bristles accounts to anticipate added incidents.”
Immediately afterward the attack, ETC developers initially downplayed the accident by characterising it as an “accident.” At the time, the developers doubted if any above double-spend attacks had occurred.
However, an investigation by a blockchain assay close after appear the “accident” was, in fact, a 51% attack, and that $5.6 actor had been stolen. At the aforementioned time, letters bond Okex wallets to the adventure additionally surfaced.
Responding to these letters in a blog, the Okex aggregation clarifies that the “exchange was alone complex in that the attacker(s) acclimated the barter to acquirement and barter ETC.”
The Okex aggregation additionally believes the barter was targeted apparently because it “provides accomplished ETC liquidity, seeing some of the better ETC transaction volumes in the industry.”
The blog address suggests that “the attacker(s) acceptable affected that they would be able to almost calmly and promptly barter ample amounts of ETC on OKEx.”
Regarding added accomplish it will take, the Okex aggregation said:
“Additionally — accustomed OKEx’s albatross to assure users from agnate incidents that abuse the aegis of their funds — the barter will accede delisting ETC, awaiting the after-effects of the Ethereum Classic community’s assignment to advance the aegis of its chain.”
However, the blog column does not accord a specific time anatomy back the ETC association is accepted to advance this.
Meanwhile, in his comments on the attack, Tim Ismilyaev, CEO and Founder at Mana Security, says such incidents are “common for beneath accepted blockchains, ETC can’t fix it after cogent amendments into their architecture.”
Ismilyaev additionally offers his appearance on why Okex still suffered the accident alike afterwards the ETC aggregation had brash exchanges to arrest deposits and withdrawals anon afterwards the attack. Ismilyaev explains:
With one exchange, Kucoin accepting delisted ETC allowance trading from its platform, the ETC aggregation faces added burden to abode the aegis challenges or face added delistings.
Can the ETC aggregation break the aegis challenges in time afore addition delisting? Share your thoughts in the comments area below.
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