Ethereum Classic, which was created as a result of a fork in the Ethereum blockchain, has been hit by a major hack. The fork occurred after the Ethereum Foundation decided to move forward with a hard fork to refund investors who lost money in The DAO hack.
This put Ethereum Classic and Ethereum on two different blockchains.
Ethereum Classic was hit by a 51% attack, which allowed hackers to double spend $5 million worth of ETC. This is a major blow to the currency, which has been struggling to gain traction since its creation.
The hack is a major setback for Ethereum Classic, which was created as an alternative to Ethereum. The currency has been struggling to gain traction and this hack is likely to further damage its reputation.