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Ethereum Classic experiences 3,693 block-long reorg

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Ethereum Classic has experienced a possible blockchain reorg of 3,693 blocks. Cryptocurrency miner Bitfly was first to identify the reorg, which was later confirmed by both Binance and Ethereum Classic development firm, ETC Core.

According to Terry Culver, CEO of ETC Labs, the reorg was not malicious. "The offending miner has lost access to internet access for a while when mining," Culver said in a statement to The Block

Upon discovery of the reorg, Bitfly advised all exchanges to halt deposits and withdrawals. Today's reorg is not Ethereum Classic's first. In 2019, the smart contract blockchain experienced a hundred plus long reorg attack that enabled the attacker to double spend 88,500 ETC, worth approximately $460,000 at the time of the attack.

Editor's Note: This piece has been updated with an official statement from ETC Labs


© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.