The new bridge between ETHW and the Ethereum network supports Ethereum, Tether, and USD Coin. As a result, the ETHW price has increased nearly 40% in the last few hours, hitting a high of $7.28.
In a tweet on September 20, Ethereum hard fork project EthereumPoW announced the introduction of the cross-chain bridge ETHW Bridge, backed by BridgeTech. The bridge supports Ethereum, Tether, and USD Coin from the ETHPoS network to ETHPoW.
However, the bridge does not enable ETHPoW to the Ethereum network. This implies that users will not be able to exchange ETHW tokens to ETH. Furthermore, there are no plans to add ETHW to Ethereum PoS network support in the future.
The contracts on the ETHPoW are as follows:
ETH (PoS): 0xB007f6c4511fD2b70a02BfcFAb6072BcEf21788d
USDC: 0xC675FDBe260e1ee93106Ee596B916952a9344f44
USDT: 0xB6334BeDf341d111525A1Db8fBE7805dE57De957
Moreover, the ETHPoW Bridge's Chain ID is 10001. Experts criticized EthereumPoW for the likelihood of replay attacks owing to Chain ID concerns.
In fact, exploiters were able to get 200 ETHPoW tokens in a replay attack on September 18. The attacker transferred 200 WETH via the Omni Bridge on the Gnosis chain and replayed the transaction date on the ETHW chain to get the same number of ETHW tokens.
The attack took place as a result of the Omni Bridge on the ETHPoW chain using the outdated chainID. As a result, the ETHPoW (ETHW) price fell 37% to $4.22 on Monday (September 19).
ETHW Price Jumps 40% Despite the Replay Attack
Despite the network's replay attack, the price of ETHPoW (ETHW) has increased by more than 40% in the last 24 hours. ETHW has a 24-hour low of $4.86 and a high of $7.27.
At the time of writing, the price of ETHW is trading at $6.90. Furthermore, the trade volume has increased after the Merge.
Meanwhile, the price of Ethereum (ETH) has rebounded somewhat after dropping below the $1,430 support level. The Ethereum price is currently trading at $1,356, up more than 5% in the last 24 hours.
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