51 percent Ethereum Classic hacker returns $100,000 in stolen cryptocurrency

As per the post on the official exchange’s blog reports on JANUARY 12, 2018, the Ethereum Classic 51 percent aggressor has allegedly refunded $100,000 to crypto exchange Gate.io, The business additionally informed that they were communicating the aggressor however they did not get any reply till now and that they do not know the reason why the funds have been returned.

The crypto exchange declared:

“If the attacker didn’t run it for profit, he might be a white hacker who wanted to remind people of the risks in blockchain consensus and hashing power security.”

A white hat hacker is a hacker with a strong professional ethic who uses his hacking skills for good and not for individual improvement. The verbiage file, a staple of hacker culture, more explains:

“The term white hat [stands] for an ally or friendly security specialist.”

Gate.io Research had recently stated its analysis of ETC transactions on its stand during the unproven attack, demanding it has noticed 7 rollback dealings out of which 4 were allegedly lead by the attacker, returning a total of 74,200 ETC. Gate.io reports that the incident occurred over a period of 4 hours between 0:40 and 4:20 Jan.7, 2019 UTC, during which the transactions were normally confirmed on the blockchain and then subsequently canceled after the harmful system rollback. After offering particulars of three ETC speeches supposedly used by the invader, as per Gate.io:

“Gate.io’s censor successfully blocked [the] attacker’s transactions at the beginning and submitted them to the manual exam. Unfortunately, during the 51% attack, all the transactions looked valid and confirmed well on the blockchain. The examiner passed the transactions. It caused about 40k ETC loss due to this attack.”

Also recently the main American crypto exchange Coinbase stated in a blog post enlightening it had seen a deep chain restructuring of the Ethereum Classic blockchain that comprised a double spend on Jan. 5. The crypto exchange continued to stop deposits and removals of ETC, which have obviously not recommenced by press time. it was even stated that the analysis of ETC transactions on its stand during the unproven attack, demanding it has noticed 7 rollback dealings out of which 4 were allegedly lead by the attacker, returning a total of 74,200 ETC. Gate.io reports that the incident occurred over a period of 4 hours between 0:40 and 4:20 Jan.7, 2019 UTC, during which the transactions were normally confirmed on the blockchain and then subsequently canceled after the harmful system rollback. After offering particulars of three ETC speeches supposedly used by the invader, as per Gate.io:

The exchange even noted in the post that subsequent the incident, it noticed many restructuring episodes that also comprised double spends, amounting to a reported 88,500 ETC (about $445,155 at press time). In addition to ETC, Coinbase Wallet has been supporting storage, sending and getting of ETH as well as100,000 plus many ERC20 tokens

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