{"id":27056,"date":"2020-08-10T11:18:04","date_gmt":"2020-08-10T08:18:04","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=27056"},"modified":"2025-08-26T18:31:45","modified_gmt":"2025-08-26T15:31:45","slug":"coinbase-raises-ethereum-classic-deposit-confirmation-time-to-two-weeks","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/coinbase-raises-ethereum-classic-deposit-confirmation-time-to-two-weeks\/","title":{"rendered":"Coinbase raises Ethereum Classic deposit-confirmation time to two weeks"},"content":{"rendered":"<p>The Coinbase exchange has increased the confirmation time for Ethereum Classic (ETC) deposits to two weeks. The move follows the recent series of 51% attacks on the network of this cryptocurrency.<!--more--><\/p>\n<p>\\n<\/p>\n<blockquote class=\\\"twitter-tweet\\\"><p>\\n<\/p>\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">Given the recent network attacks on Ethereum Classic, we have increased the confirmation time for ETC sent to Coinbase &#038; Coinbase Pro to ~2 weeks. We are actively monitoring the situation and will provide updates as they become available.<\/p>\n<p>\\n<\/p>\n<p>\u2014 Coinbase Support (@CoinbaseSupport) <a href=\\\"https:\/\/twitter.com\/CoinbaseSupport\/status\/1291898937037611008?ref_src=twsrc%5Etfw\\\">August 8, 2020<\/a><\/p>\n<\/blockquote>\n<p>\\n<\/p>\n<p><script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>\\n<\/p>\n<blockquote>\n<p>\u201cTaking into account the recent attacks on the Ethereum Classic network, we have increased the confirmation time for ETC deposits on Coinbase and Coinbase Pro to two weeks. We are actively monitoring the situation and will provide further details as they become available,\u201d the company said.<\/p>\n<\/blockquote>\n<p>\\n<\/p>\n<p>Last week the ETC network suffered two 51% attacks. The damage from the first <a href=\"https:\/\/u1f987.com\/en\/news\/ethereum-classic-network-hit-by-second-attack-in-a-week\">is estimated<\/a> by analysts at $5.6 million, <a href=\"https:\/\/u1f987.com\/en\/news\/damage-from-second-ethereum-classic-51-attack-in-a-week-estimated-at-1-68-million\">the second<\/a> \u2014 at $1.68 million.<\/p>\n<p>\\n<\/p>\n<p>The exchange&#8217;s measures drew criticism from the community. Twitter users question why Coinbase has not delisted the coin but instead imposed restrictions.<\/p>\n<p>\\n<\/p>\n<blockquote class=\\\"twitter-tweet\\\" data-conversation=\\\"none\\\"><p>\\n<\/p>\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">Just delist it. Give people time to sell and delist it. Stop supporting scam projects.<\/p>\n<p>\\n<\/p>\n<p>\u2014 PP (@longtermdaily) <a href=\\\"https:\/\/twitter.com\/longtermdaily\/status\/1292172064837775361?ref_src=twsrc%5Etfw\\\">August 8, 2020<\/a><\/p>\n<\/blockquote>\n<p>\\n<\/p>\n<p><script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>\\n<\/p>\n<blockquote>\n<p>\u201cJust remove it from the listing. Give people time to sell and remove it. Stop supporting scam projects,\u201d wrote a user under the alias PP.<\/p>\n<\/blockquote>\n<p>\\n<\/p>\n<p>User ColumbusCrypto asked whether the exchange, which profited from ETC trades, plans to compensate its customers for the losses.<\/p>\n<p>\\n<\/p>\n<blockquote class=\\\"twitter-tweet\\\" data-conversation=\\\"none\\\"><p>\\n<\/p>\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">How do you plan on compensating your customers since you were selling and profiting off this dumpster fire?<\/p>\n<p>\\n<\/p>\n<p>\u2014 ColumbusCrypto\u26a1\ud83d\udd34 (@ColumbusCrypto) <a href=\\\"https:\/\/twitter.com\/ColumbusCrypto\/status\/1291902376069259268?ref_src=twsrc%5Etfw\\\">August 8, 2020<\/a><\/p>\n<\/blockquote>\n<p>\\n<\/p>\n<p><script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>\\n<\/p>\n<blockquote>\n<p>\u201cHow do you plan on compensating your customers since you were selling and profiting off this dumpster fire?\u201d \u2014 wrote ColumbusCrypto<\/p>\n<\/blockquote>\n<p>\\n<\/p>\n<p>Currently Ethereum Classic sits at 28th place in the cryptocurrency rankings by market cap, at over $800 million. Daily trading volumes approached $700 million. According to <a href=\\\"https:\/\/www.coingecko.com\/en\/coins\/ethereum-classic\/\\\" target=\\\"_blank\\\" rel=\\\"noopener noreferrer\\\">Coingecko<\/a>, ETC\u2019s market value at the time of writing was $6.94. Before the first attack a week ago, the coin traded around $8.25.<\/p>\n<p>\\n<\/p>\n<p>Earlier, another 51% attack on the ETC network occurred in July last year. The damage was estimated at $460,000. The hacker later returned part of the stolen funds to Gate.io.<\/p>\n<p>\\n<\/p>\n<p>Subscribe to ForkLog news on <a href=\\\"https:\/\/vk.com\/forklogcom\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">VK<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Coinbase exchange has increased the confirmation time for Ethereum Classic (ETC) deposits to two weeks. The move follows the recent series of 51% attacks on the network of this cryptocurrency.<\/p>\n","protected":false},"author":1,"featured_media":26216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1395,138,476],"class_list":["post-27056","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-51-percent-attack","tag-coinbase","tag-ethereum-classic"],"aioseo_notices":[],"amp_enabled":true,"views":"38","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/27056","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=27056"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/27056\/revisions"}],"predecessor-version":[{"id":27057,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/27056\/revisions\/27057"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/26216"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=27056"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=27056"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=27056"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}