ETCDEV, the operator of Ethereum Classic (ETC), has halted operations due to a price crash!

December 3Ethereum ClassicThe operator of Ethereum Classic, ETCDEV, announced that it would suspend operations due to financial difficulties on ETCDEV's Twitter.

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ETCDEV@etcdev

Unfortunately ETCDEV cannot continue to work in the current situation and has to announce shutdown of our current activities

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1:12 - December 4, 2018

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As ETCDEV suspended operations, the price of Ethereum Classic plummeted!

Following the public announcement by ETCDEV as the operator of Ethereum Classic, the price, which had been around 600 yen, dropped to about 490 yen within two days.

However, before ETCDEV announced its suspension on Twitter on December 3, it had conducted a cryptic poll on Twitter.

The poll results were:

If ETCDEV, the operator of Ethereum Classic, asked for donations, would you donate?

That was the question.

However, attempts to reach ETCDEV were futile, and the result was:

• Donate: 41%
• Do not donate: 59%

The above results were obtained.

Since the poll was conducted on December 2, it is presumed that the majority did not wish to donate, leading to the formal announcement of operational suspension.

Background of ETCDEV's Financial Difficulties

ETCDEV is the leading development organization for Ethereum Classic, a fork of Ethereum.Ethereum that split off (hard fork) to Ethereum Classic.

However, ETCDEV states that development has halted due to lack of funds.

The lack of funds is attributed to a decline in the value of cryptocurrencies held by the company, causing financial issues.