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OKEx Considering Delisting ETC Because of 51% Attacks

CoinDesk reported on August 17 that Malta-based cryptocurrency exchange OKEx is considering delisting the Ethereum Classic (ETC) cryptocurrency, after the two recent attacks had resulted in a loss of funds on the exchange.

  • OKEx CEO Jay Hao told CoinDesk that they are hesitant to delist ETC given its popularity, but also said that the network needed security improvements
  • OKEx has among the highest trading volumes of ETC among all exchanges
  • The exchange lost $5.6 million following the ETC 51% attacks which occurred in the first week of August 
  • Discussions following the ETC 51% attack centered around the need to switch to a different consensus mechanism
  • Ethereum, meanwhile, is making its own transition to Proof-of-Stake, though it has hit hurdles
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