Exchanges

14/01/19 10:10 UTC-4

Gate.io exchange: stolen 40,000 ETC were returned

Gate.io reported that stolen ETC were returned
Gate.io reported that stolen ETC were returned

The Gate.io cryptocurrency exchanger stated on Saturday (January 12) that $ 10,000 in Ethereum Classic was returned after a recent hack and theft, as reported by CoinDesk.

In its announcement, Gate.io also announced that it had attempted to contact the attacker but had not received any response yet.

"We still do not know the reason. If an attacker does not use coins for profit, he may be a "white" hacker (...) who wants to remind people of the risks in the blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details
consensus and security hashing"
– from a post on the official Gate.io blog

 

Gate.io and hacking the ETC blockchain

Gate.io, a stock-exchange, warned that the ETC network hashHash
(hashing) – a cryptographic term that means changing the input data of different sizes into the original data of a clearly defined size, using a special mathematical algorithm.Details
capacity is still not strong enough. Now, it is quite possible another burglary of the very 51%. At the time of writing, January 14, the rate of ETC cryptocurrency is $ 4.34 (CoinMarketCap).

Recall that last week the representatives of Gate.io confirmed that they lost about 40,000 ETC (at that time it was 200,000 US dollars, after a fall of 10,000 dollars).

The theft took place as a result of a hacker attack on 51% of the ETC blockchain. The hacker hacking method recognized manipulation when more than 50% of the computing power of a separate blockchain network unites and controls one "organization" to change the same network. As a result of the control, you can change the transactionTransaction
– is a financial term that means a logically meaningful operation that can only be carried out completely. Details
history and "spend" the same coin a second time.

Exchanger during hacking retained three addresses that could not be identified in the future. In its Saturday message, the exchange announced the launch of additional security systems.

"Gate.io raised the ETC confirmation number to 4000 and launched strict controls on 51% blockchain to increase security. We also offer other exchanges where there is an ETC to take the necessary measures to protect traders from rolling back and reorganizing the blockchain." – www.gateio.io

Gate.io said that the stolen 40,000 ETC were returned – this is not the first exchange that suffered that day. Recall that another crypto-exchanger, Bitrue, confirmed the influence of the "51 percent attack". According to the official Twitter message, the attacker attempted to steal about 13,000 ETC from Bitrue but was stopped by the security system.

"Yesterday morning we experienced an ETC attack of 51%. The attacker attempted to remove 13,000 ETC from our platform, but our security system stopped him." – Twitter (BitrueOfficial/status).

Editor: Pereyidenko Ihor

See also: "Apple, Tesla and Facebook security tokens on the DX.Exchange platform"

#Gate.io #Bitrue #hacking #blockchain #ETC #stockexchange #EthereumClassic

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