Just one week after the 51% attack on the Ethereum Classic blockchain, the attacker surprisingly returned back portion of the stolen money to Gate.io, according to a recent report published by the crypto exchange.
The attack took place on 7 January 2019 and researchers at Gate.io said the hacker swindled a total of 54,200 ETC, worth approximately $250,816,191 at the time of the press. Gate.io also presented three ETC wallet addresses allegedly used by the hacker, while requesting other cryptocurrency exchanges to freeze any transaction from the suspicious addresses.
Gate.io, which guaranteed to reimburse the losses faced by its customers, announced that they received $100k of ETC from the perpetrator. Neither do they know the reason for the partial refund, nor do they have heard anything from the hacker.
According to Gate.io, if the perpetrator does not attempt to make the profit, then it is remotely possible that he is a white hacker who just actually wanted to grab people’s attention to the underpinning risks of “blockchain consensus and hacking power security.”
This could be probably be true because researchers at Gate.io believe that the “hacking power “ of ETC blockchain is not strong enough and hackers could easily rent the requisite hashing power for another 51% attack.
As reported earlier, the US-based crypto exchange Coinbase had a completely different story, asserting that it discovered 88,500 ETC ($410k at press time) in double expenditure and chains. The ETC team refuses to accept, however, that it was a 51% assault and claims that no double spending was found.