ETC blockchain recoghnizaion attack cause $1.1M loss in double spends

Coinbase, a cryptocurrency exchange announced at the beginning of this month that the apparent ETC blockchain recognization attack has been accompanied by around half a million dollars in double spends. From the post: On 1/5/2019, Coinbase detected a deep chain reorganization of the Ethereum Classic blockchain that included a double spend. In order to protect customer funds, we immediately paused movements of these funds on the ETC blockchain. At the time of writing, it had been identified at least 9 reorganizations containing double spends, that means, these double spends total sum up to 88,500 ETC or $460,000 at current prices. And it is not a one- time event, so the attacks are apparently going on. Post from the Firm: 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 Read more