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‼️ ‼️ ‼️ BREAKING!!! Such a badass whitehat attacker act 🤠🤠🤠
The ETC 51% attacker returned the entire $100K to Gate!!! gate.io/article/16740 this is a such a chivalrous behavior to raise awareness of 51% attack and give out warning on coins with low hashrate security
The ETC 51% attacker returned the entire $100K to Gate!!! gate.io/article/16740 this is a such a chivalrous behavior to raise awareness of 51% attack and give out warning on coins with low hashrate security
The attacker can easily get away from all investigation. Gate does not require KYC and in the post they said they can't contact or trace down the attacker. OTC desks in China is quite loose so cashing out can't be easier.
Whoever the attacker is, he/she has all my respect
Whoever the attacker is, he/she has all my respect
Had a comprehensive thread on cost, timing, feasibility and ethics of 51% attack.
TL;DR: 51% attack is the evolutionary feature of PoW.
Selfish miner will attack when mining reward < attacking reward but this result turned out to be quite epic
TL;DR: 51% attack is the evolutionary feature of PoW.
Selfish miner will attack when mining reward < attacking reward but this result turned out to be quite epic
Economists say people are selfish and rational, but in reality people can be selfishless, and largely irrational :)
It reminds me of the very early days, bitcoin mining wasnt making any money for those bootstrapped the network
This makes the world a better, humane place 🤗
It reminds me of the very early days, bitcoin mining wasnt making any money for those bootstrapped the network
This makes the world a better, humane place 🤗
51 attack itself is a norm/evolutionary principle of how PoW is designed. In order to gain profits from shorting you need to time it really well + the market is rational, which makes shorting alts very hard.
This is completely different than robbing a bank, crypto world babe.
This is completely different than robbing a bank, crypto world babe.
A better analogy here can be wars between all chains, hashrate is the army/moat. When the weaker gets defeated, ledger reorg as war trophies.
People keep saying the lack of security of smaller PoW coins, but that was the goal all along... Only the strongest survives
People keep saying the lack of security of smaller PoW coins, but that was the goal all along... Only the strongest survives
folks seems to be confused by the Coinbase blog aying $1M.
Coinbase, Bitrue, Gate, Yobit all detected the rollback, and the attacker was able to withdraw from Gate (40K ETC) and Yobit (130K ETC) ONLY. The Gate part is fully returned and Yobit hasn’t.
Coinbase, Bitrue, Gate, Yobit all detected the rollback, and the attacker was able to withdraw from Gate (40K ETC) and Yobit (130K ETC) ONLY. The Gate part is fully returned and Yobit hasn’t.
