Exchange Says 51% Attacker Returned $100K-Worth of Ethereum Classic
Cryptocurrency exchange Gate.io said Saturday that $100,000 in ethereum classic has been returned following a recent 51-percent attack.
Analysts see speculative fever rather than informed bets on the blockchain’s future technological potential.
Ethereum Classic wants to play in the decentralized finance (DeFi) space of the blockchain from which it contentiously split in 2016.
ETC could see steady demand until the end of the third quarter, according to David Grider, strategist at FundStrat.
Three 51% attacks on the Ethereum Classic network have not yet made a significant impact on the price of its cryptocurrency.
Shaken by weeks of network-overwhelming hacks, ETC Labs has outlined its security response.