Blockchains may be secure by design, but researchers continue to show that the same is not true for the thousands of motley cryptocurrencies based on the technology. Husam Abboud, a cryptocurrency researcher at FECAP University in Brazil, has demonstrated that it would take as little as $1.5 million to execute a network attack on Ethereum Classic (ETC) — with a market cap of over $2 billion — and still be in profit. If you have $55 million, you could even bankrupt the currency, making off with $1 billion in profit. The proof-of-work blockchains that use the same algorithms as larger…
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