Ethereum Classic experiences 3,693 block-long reorg

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

THE SCOOP

Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy
By signing-up you agree to our Terms of Service and Privacy Policy

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