Latest data from CryptoCompare finds Ethereum Classic has outperformed Ethereum by 5% despite suffering from a doomsday scenario 51% double-spend attack – what are the facts?
As originally reported by CryptoGlobe, on January 5, before the widely reported attack that manipulated the Ethereum Classic blockchain leading to a double spend, ETC was trading at $5.25, while ETH was at $155. They’re now at $4.4 and $121.9 respectively. While both have dropped, Ethereum’s drop has been more significant.
There are a few reasons why ETC outperformed its bigger brother, but the main reason appears to be the surprising development that the hacker or hackers behind the 51% attack have reportedly returned the misappropriated ETC tokens.
While initially Gate.io revealed it got back $100,000 worth of ETC, blockchain security firm SlowMist has claimed its system found the attacker returned all of the stolen funds:
According to the SlowMist’s BTI System, it was found that all ETC the 51% attacker took from exchanges have returned to them at 11:00 on January 10, 2019. Including @YobitExchange‘s 122735 ETC and @gate_io‘s $100,000 worth ETC. @ClassicIsComing @eth_classic pic.twitter.com/0gvxUwokKJ
— SlowMist (@SlowMist_Team) January 16, 2019
There is speculation that the attack was performed by a so-called white hat hacker group to demonstrate the vulnerabilities of the chain.
At the same time, on the Ethereum side there has been considerable uncertainty regarding the Constantinople upgrade. It has been delayed due to a critical bug which has shaken confidence.