The news or the ‘unconfirmed rumors’ that Ethereum Classic is undergoing chain reorganization and was under double spend attack seems to be coming true. This was first reported by the security firm SlowMist and, over the last couple of hours, the blockchain has undergone several block reorganizations as reported by Ethereum Classic explorer BlockScout.
Ethereum Classic informs exchanges and mining pools of higher confirmation time
Earlier today, a certain section of the media send out news that according to Chinese security firm SlowMist, the Ethereum Classic (ETC) network is prone to a possible 51% attack and crypto exchanges with ETC listings are advised to strengthen guards. This news even led to a sudden drop in Ethereum Classic prices.
Although, things were cleared out by the official twitter handle of Ethereum Classic which mentioned that the news floating in media regarding the double spend attack and chain reorganization were rumors and also posted a picture that there was no reorganization being undertaken. The tweet also confirmed that there were no issues with the blockchain.
There have been rumors of a possible chain reorganization or double spend attack.
From what we can tell the ETC network is operating normally.
— Ethereum Classic (@eth_classic) January 6, 2019
But it seems, since the time Ethereum Classic has cleared the air, the movement of chain reorganization has picked up. There are several blocks over past few hours that are reorganized.
Ethereum Classic is yet to confirm officially but the ‘rumored’ attack news seems to be true.
The news is further fuelled by a recent tweet Ethereum Classic has put forward,