The developers of Ethereum Classic have finally agreed that a 51% attack on the network has really happened and suggested that it turned out to be connected with the testing of new miners.
The total amount of funds implicated in the double spend hack is 88,500 ETC (~460,000 USD).
The first reports that 51% of the Ethereum Classic is under attack came on Monday night, but the project’s representatives initially denied it.
And only on Monday evening, the team announced that it had found a plausible explanation for what had happened. According to them, ASIC miners Linzhi Shenzhen were tested with new devices for the Ethash algorithm with 1,400 / Mh.
After that the CEO of Linzhi Shenzhen, Wolfgang Spraul refused the claims that Linzhi is involved in the chain reorganization: We are categorically denying such claims, they are entirely baseless and may be part of the attack itself.