It has become apparent that GDAX have suffered major replay attacks in the early trading of the new hardfork (ETHF) clone. They did not properly secure themselves from the attack after advice presented by the Ethereum foundation was taken. During this period it is unknown what actual amount of ETC was relayed but we have estimated it is much bigger than initially anticipated. This occurred over a number of days as GDAX where assured by the Ethereum foundation there would be no interest in the original and unbreakable genesis chain. They where even aware of the attack vector but left it unpatched. At the time of the attack the $ETC was trading between $0.26 USD and $0.58 cents. It is now trading successfully above $1.80 USD after failed attempts harm the chain. GDAX and Coinbase are owned by the same company so it would be safe to assume they are both going to be affected by the loss of ETC.
Its incredible how much damage was done thru the handling of the problem.
And its even more incredible that its markets are still floating as they are.
Upvoted
Thanks for the support!