Japanese exchanges cut support for Ethereum Classic


Japan’s leading cryptocurrency exchanges bitFlyer and Coincheck have stopped Ethereum Classic deposits and trading.

Japan’s largest cryptocurrency exchanges bitFlyer and Coincheck announced that they have suspended support for Ethereum Classic. As a justification, the Ethereum Classic blockchain was recently exposed to 51% Attack.

Emphasizing that it acts in the best interest of its customers, bitFlyer announced that ETC cannot be invested in the platform for a while.

On the other hand, Coincheck also reported that ETC trading and deposits have been suspended on Coincheck’s web and mobile applications as of today. “We have decided to stop supporting ETC because we cannot do it safely,” Coincheck said in a statement. It was said.

In August, Ethereum Classic developers confirmed that the chain split in block 10,904,146 as a result of the attack on the blockchain. While the chain was reorganized through 3693 blocks, the estimated total loss was 807,260 ETC. Five days after that, Ethereum Classic experienced a second 51% Attack. The developers then compiled a list of measures to protect the network.

OKEx, the cryptocurrency exchange, suffered the most from the Ethereum Classic attack. Hundreds of thousands of ETC were withdrawn from the leading exchange.

ETC is trading at $ 5.22 in the minutes of the news and is the 33rd largest cryptocurrency with a market value of $ 606 million.

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