Cryptocurrencies
Cryptocurrency Ethereum Classic Software Remains Under Siege
- Offshoot of Ethereum has market value of about $500 million
- Coinbase exchange halted transactions Monday after 51% attack
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Ethereum Classic, an offshoot of the second-largest cryptocurrency, remains under attack by some of the so-called miners whose servers support the underlying network operations, according to the cooperative that funds development of the digital coin.
Coinbase Inc., one of the world’s largest cryptocurrency exchanges, said on Monday that it had found “deep reorganizations” of the Ethereum Classic blockchain. As a result some $1.1 million in digital coins has been spent twice. That can indicate a so-called 51 percent attack, in which some computers supporting a network falsify transactions.