Hacker Allegedly Returns $100,000 to Gate.io Following ETC Hack

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$100,000 worth of cryptocurrency stolen from exchange Gate.io during the 51% attack that took place last week has allegedly been returned by the hacker who took it, according to a post on the exchange’s official blog made January 12.

Another 51% Attack on Ethereum Classic is Still Possible. Says Gate.io

The blog post by Gate.io saying that $100,000 had been returned by the exchange also noted that “based on our analysis, the hashing power of ETC network is still not strong enough and it’s still possible to rent enough hashing power to launch another 51% attack.”

Until (and if) the Ethereum Classic network does something to protect itself from another attack, Gate.io says that it “has raised the ETC confirmation number to 4000 and launched a strict 51% detect for enhanced protection,” and suggests that traders take additional protective measures.

Finance Magnates reached out to Gate.io for further commentary on the matter, but the exchange had not responded by the time of publishing.

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