C-CEX Removes Etherbatch (EBH) and BizCoin (BIZ) from Trading After 51% Attack
Germany-based cryptocurrency exchange C-CEX just disabled EBH and BIZ token trading on its platform after a 51% attack.
The news comes just one day after C-CEX announced that all customer DOGE and LTC funds had been lost in a hack. To put it mildly, it’s been a tough two days for C-CEX.
Etherbatch, or EBH, is a relatively obscure cryptocurrency. However, C-CEX was the only major exchange online where you could trade EBH.
BizCoin (BIZ), meanwhile, is another obscure token with few apparent use cases.
C-CEX confirmed the 51% attack in a tweet earlier today:
EBH and BIZ 51% attack. Coins removed from trading.
— C-CEX.com (@CryptoCurrEncyX) September 11, 2018
It’s important to note that the 51% attack is unlikely to be the fault of C-CEX or its employees. A 51% attack takes place when someone attacks a blockchain using more than 51% of mining power on the network. 51% attacks are virtually impossible on larger cryptocurrencies like bitcoin and Ethereum, while smaller cryptocurrencies – like BIZ and EBH – can easily get attacked.
In any case, C-CEX appears to be one of the few cryptocurrency exchanges that offered EBH and BIZ trading. It appears neither token has been traded on the platform in the last 24 hours, according to exchange data from CoinMarketCap.
C-CEX is known for trading obscure cryptocurrencies you won’t find on other trading platforms. The platform’s top cryptocurrency pair today, for example, is Forkcoin (FORK), followed by MCAP (MCAP). Other coins in the top 10 by trading activity include Pabyosi Coin (PCS), Asiadigicoin (ADCN), Altcoin (ALT), WA Space (WA), and WINCOIN (WC). Heard of any of these tokens? Probably not.
If you held EBH or BIZ on your C-CEX account, then it’s unclear what happens now. During a 51% attack, it’s possible for hackers to compromise the blockchain network in various ways. This could mean that C-CEX’s BIZ and EBH funds will be stolen. It could also mean that BIZ and EBH are no longer viable projects moving forward.
In any case, C-CEX has suspended trading activity in BIZ and EBH for now. Stay tuned to the C-CEX official Twitter (@CryptoCurrEncyX) for further updates.