OKEx to delist ETC

OKEx announces the possibility of delisting Ethereum Classic after being attacked twice 51%. According to the company the attacks resulted in losses of $5,6million.

From June 26 to July 9, hackers contributed 68 230 ZEC to OKEx addresses, which were exchanged on July 31 for 807 260 ZEC and transferred to personal wallets. Simultaneously the attacked used rented computing power and formed a “shadow chain” and sent ETC twice by redepositing coins to OKEx, while simultaneously moving the same coins in their version of the blockchain between their own addresses. Then the attackers passed on their version of the transaction history to other network participants, taking an advantage of the fact that at that time their chain was already longer. OKEx incurred losses and suspended Ethereum Classic deposits and withdrawals.

The company will make a delisting decision based on the work of the asset community to improve the security of its network.

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