Breaking: Coinbase Says Ethereum Classic Attack Included $500,000 in Double Spends

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ethereum classic attack coinbase

Contradicting reports from the Ethereum Classic camp, cryptocurrency exchange giant Coinbase announced this afternoon that the apparent ETC blockchain reorganization attack had been accompanied by around half a million dollars in double spends.

The San Francisco-based crypto exchange wrote:

We observed repeated deep reorganizations of the Ethereum Classic blockchain, most of which contained double spends. The total value of the double spends that we have observed thus far is 88,500 ETC (~$460,000).

CCN previously reported that the Ethereum Classic might have been the target of a successful 51 percent attack, though the project’s official Twitter account attributed the blockchain reorganization to a crypto mining manufacturer testing a new batch of ETC mining rigs and claimed that no double spends had been identified.

Developing…Check back for updates.

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