Gate.io Research Institute: Confirmed that the ETC network suffered a 51% network attack and located the attacker's address

Gate.io announced that it has confirmed that the ETC network has suffered a 51% attack and located the attacker's ETC address. In this attack, Gate.io detected a total of 7 rollback transactions. Among them, four transactions totaling 54,200 ETC came from cleverly planned attackers. The attack lasted from 0:40 UTC on January 7, 2019 to 4:20 UTC on January 7, 2019, for a total of about 4 hours. During this period, the attacker's computing power accounted for more than 51% of the total network computing power, and all transactions appeared to be real and valid and had real confirmation on the ETC network. After the attacker succeeded, he used powerful computing power to roll back the ETC blockchain, forcing the previously confirmed transfer records to become invalid. Gate.io Research Institute further confirmed that the fundamental reason for the 51% attack on the ETC network was the decline in ETC market value and network computing power, and the attacker could easily launch a computing power attack on ETC by leasing ETH computing power .