|Oct 11, 2018 03:28 AM||By: John Patrick Mullin | 2386 Views|
“On October 13, at 3:00 AM CDT, I plan to switch to the 51% attack on the digital currency Einsteinium”. This application was posted on the Internet by an anonymous hacker. He intends to gain complete control over most of the altcoin hashrate in order to demonstrate how simple it is. A hacker with the nickname piracy1 will broadcast this event online. The beginning is scheduled for 11:00 Moscow time.
In the past three months, 51% have encountered a series of altcoins, including Bitcoin Gold and Verge. It is noteworthy, but the latter has twice failed to cope with the attackers. Now the Einsteinium (EMC2) coin is in sight of the hacker. Piracy1 identified the key motives of his decision, which include the demonstration of opportunities for everyone to conduct an attack, show the features of the attack 51%, reducing damage from it.
The definition of EMC2 as a special test site has become nonrandom. There are doubts about whether there is a similar altcoin, which can also be easily attacked. Einsteinium was the third worst altcoin of the year. The cost of the coin decreased by 97% relative to the maximum value. Heshrayt also became very small, which contributes to vulnerability to attacks.
Financial profit from the attack is likely to be minimal. This may indicate that the hacker does not count on double spending. Also Piracy1 is going to rent hash power. He published a record where he says that he is investing $ 50 of his own money in the attack, and anyone can make a donation. This figure shows how easy and cheap it is to get altcoin with a low hash rate. According to the crypto51.app resource, the hourly attack on Florincoin and similar systems with a leased hashrate will cost just $ 22.