OKEx may remove from listing ...

OKEx May Remove Ethereum Classic From Listing Due To 51% Attack

  • OKEx may remove ETC from listing if developers do not solve the problem of frequent attacks 51%

  • The latest attack cost the exchange $ 5.6 million in losses

  • So far, the price of ETC has not changed much, but in the case of delisting, the asset may significantly lose in price

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The recent 51% attack on the Ethereum Classic network did not affect the price of ETC much, but the actions of the exchanges could change this situation

Cryptocurrency exchange OKEx said that as a result of 51% attack on blockchain-Ethereum Classic network (ETC), the exchange lost about $ 5.6 million.

The exchange also warned that in case of improper updating of the Ethereum Classic network in order to prevent repeated attacks, the service will remove ETC from the listing..

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In accordance with the user protection policy, OKEx announces that it was she who suffered losses in order to protect platform users from sudden financial losses.

Harness the chaos

However, the exchange has already announced two scenarios for the development of ETC on the site: an immediate and long-term response.

As part of an immediate response, the exchange suspended ETC deposits and withdrawals to prevent further losses and blacklisted addresses, attackers.

“OKEx also plans to extend the confirmation time for ETC deposits and withdrawals in the future to ensure safer and smoother trading for its users,” the official announcement said..

August 6, Ethereum Classic network suffered 51% re-attack.

OKEx may remove from listing ...

Amid the attack, cryptocurrency exchange Binance froze all operations with ETC, including deposits and withdrawals.

At the request of the developers

The American cryptocurrency exchange Coinbase, at the request of the Ethereum Classic developers, took much more radical measures and increased the confirmation time for ETC deposits to two weeks.

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As part of maximum business transparency, OKEx announced its intention to disclose the hot (digital) wallet address to give users and the broader crypto community more transparency on how funds are stored and transferred to OKEx..

Despite the increased attacks on the Ethereum Classic blockchain, the token new types of tokens.

OKEx may remove from listing ...

They can represent value or something intangible like voices. Two … More ETC has not lost much in value and is still trading in the $ 6.80 to $ 7.80 range.

On moment of writing ETC / USDT price is $ 7.08.

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OKEx may remove from listing ...

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