The crypto currency exchange Bitcoin DMM calms clients amid fears of attack 51%

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Japanese cryptocurrency exchange is trying to reassure its customers and says it will monitor the transactions and new orders.

A few hours after the first reports of the “attack on 51%”, focused on the Ethereum network Classic (ETC), the fear among traders of cryptocurrencies grow. DMM Bitcoin, the cryptocurrency exchange, which is owned by Japanese Internet giant DMM.com trying to reassure their customers on the background of these concerns.

In a statement on its web site the representatives of DMM Bitcoin explained that they do not process transactions ETC as such. However, the company notes the latest posts about 51% attacks. DMM Bitcoin States that when placing new orders, they pay attention to order management and will continue to closely monitor the transactions of customers.

Attack 51% is usually aimed at blackany. It can organize a group of miners controlling more than 50% computing power of the network. Attackers can prevent new transactions to confirm that allows them to stop user fees, and to cancel transactions that were completed in the period of their control over the network. This means that they can double the flow of coins.

The reaction of other exchanges on the attack

The crypto currency exchange Kraken has posted a statement regarding their actions in connection with the incident with the attack:

“Since the attack 51%, appears to be continuing, we have temporarily suspended deposits and withdrawals from ETC. We will continue to monitor the situation, but will refund transactions ETC online only after it’s safe enough”.

“Because of the potential attack 51% on the Ethereum network Classic, we have temporarily increased the number of confirmations required for Deposit ETC, up to 500 (about 1 hour 56 minutes). We will continue to monitor the situation and will reduce it to 120 confirmations, if our developers believe that it is safe,” reported on the stock exchange OKEx.

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Tags: Bitcoin, Ethereum DMM Classic

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