Ethereum Classic (ETC): questions and answers
Every answer below is written from the sources listed at the end of this page, with the date each one was checked.
The question that decides how you read Ethereum Classic
Ethereum Classic exists to insist that a blockchain's history must never be rewritten. In 2020 its history was rewritten twice in a week by attackers. How does a chain hold that principle after that?
In June 2016 an attacker exploited a reentrancy flaw in The DAO, a large smart-contract fund, draining a substantial share of its Ether. The community faced a choice with no neutral option: intervene and reverse the theft, or accept that the contract did what it was written to do.
The majority chose intervention through an irregular state change at block 1,920,000 on 20 July 2016. A minority regarded that as the more dangerous precedent and kept running the unmodified chain.
What is still unsettled
The structural vulnerability has not gone away. Any proof-of-work chain whose hash rate is small relative to the rentable market is exposed, and defences such as deeper confirmations or checkpointing trade against the purity of the immutability claim they exist to protect. That tension is the honest core of Ethereum Classic today.
What this means when you swap ETC
Ethereum Classic shares Ethereum's address format exactly, because it is the same chain before the fork. An ETC address and an ETH address are visually indistinguishable, which makes cross-network sends the single most common loss event for this asset — and the receiving platform often cannot help, because the funds are on a chain it does not serve at that address.
Expect slow credits. After 2020, exchanges commonly require far more confirmations for ETC than for comparable chains, so a deposit that clears in minutes elsewhere can take considerably longer here. There is no memo or tag; the network remains proof-of-work, and fees are paid in ETC.
Common ETC questions
- How do I swap Ethereum Classic (ETC) instantly on Monivo?
- Pick ETC as the asset you want to receive, choose what you're paying with, paste your wallet address, and confirm. Monivo routes your order to the provider offering the best rate, and most swaps complete in under 10 minutes — no account needed.
- Can I swap ETC with no KYC?
- Yes. Crypto-to-crypto swaps of ETC on Monivo require no identity verification and no sign-up. Only fiat purchases (card or bank transfer) require KYC, because banks and payment processors mandate it.
- Is swapping Ethereum Classic on Monivo non-custodial?
- Yes. Monivo never holds your funds. ETC is sent directly to the wallet address you provide, so you stay in control the whole time.
- Which network does ETC use here?
- Monivo supports Ethereum Classic on the ETC network. Always double-check that your receiving wallet supports this network before confirming.
- What fees apply when I swap ETC?
- Monivo adds zero fees on top. The quote you see already reflects the best aggregated rate across connected providers, including their network and processing costs — all fees are included in the shown amount.
- Why do ETC and ETH addresses look identical?
- Because Ethereum Classic is the original chain from before the July 2016 fork, both networks derive addresses the same way. The string tells you nothing about which chain is intended, so always confirm the network in the deposit instructions.
- Why does my ETC deposit need so many confirmations?
- After the deep chain reorganisations in 2020, exchanges raised confirmation thresholds for ETC substantially to protect against double spends. It is a deliberate safety margin rather than a stuck transaction.
- What is the difference between Ethereum and Ethereum Classic?
- They shared one history until 20 July 2016, when Ethereum executed a state change to reverse The DAO theft. Ethereum Classic continued the unmodified chain, kept proof-of-work after Ethereum moved to staking, and is a separate asset with separate value.
Sources and dates (7)
- The DAO fork was executed as an irregular state change at block 1,920,000 in July 2016. Ethereum Classic project history · 2016-07-20 · checked 2026-09-22
- Ethereum Classic suffered deep chain reorganisations and double spends in two attacks during August 2020. Coinbase incident post-mortem · 2020-08-06 · checked 2026-09-22
- Pruned nodes on one client rejected the deep reorganisation, partitioning the network during the attack. Coinbase technical analysis · 2020-08 · checked 2026-09-22
- The ecosystem's own account of the attacks reports different loss figures from the exchange post-mortem. ETC Labs statement · 2020-08 · sources disagree · checked 2026-09-22
- IQ.wiki records Ethereum Classic's emergence from the 2016 Ethereum chain split. IQ.wiki · reported, not independently confirmed · checked 2026-09-23
- Messari dates ETC's first recorded trade to July 2016. Messari · reported, not independently confirmed · checked 2026-09-23
- CoinGecko maintains the live ETC market page under the Ethereum Classic asset name. CoinGecko · reported, not independently confirmed · checked 2026-09-23