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Ethereum Classic resolved a malicious exploit

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Ethereum Classic survived the exploit
Source: Shutterstock, AlekseyIvanov

Ethereum Classic, a cryptocurrency that will probably be forever in the shadow of ETH. After a successful hard fork, this factor became even more pronounced. Recently, this project managed to survive the attack exploit Geth. It is malicious code that can cause quite large problems.

ETH Classic survived the exploit

How did the exploit disrupt normal operation in the ETC network? Quite significantly, even so much so that the ETC mainnet had to split up on 3 September. The attacker managed to discover malicious code in the “Go ETH” project. According to recorded data, there were more than 20% hash rate on the wave of decline.

ETC hash rate

 

ETC hash rate. Source: 2miners.com

Most likely, the decline was due to miners or pools that used an unauthorized version of Coregeth. However, by the time the problem was resolved, the damage was significant. This situation was also able to negatively disrupt the issuance of ETC. Emissions began to fall to their lowest level 20 300 ETC.

ETC emission rate

 

ETC emission rate. Source: Messari

How did investors react?

Fortunately, investors did not react to this moment as expected. The developers managed to solve the problem very quickly, albeit with considerable damage. The number of active addresses increased to 37,700. Daily volumes were also able to jump up to $ 228 million.

Volume of ETC transactions

 

Volume of transactions at ETC. Source: Messari

Looking to the future, it therefore seems that investing in this project can be safe.

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