"On Oct 13, 3:00 CDT I will be doing a 51% attack against the cryptocurrency Einsteinium," began the call-to-arms. As promises go, this one was as bold as it was brazen. The anonymous attacker has promised to assume majority hashrate control of an altcoin to demonstrate how easy the process is. As proof, they've not only given fair warning of the attack, but have promised to livestream the event.
51% Attacking Altcoins Is Now a Spectator Sport
51% attacks, in which a malevolent attacker gains majority control of a cryptocurrency's hashrate, and then potentially uses this advantage to fraudulently double spend transactions, have been a recurring motif in 2018. During the course of three months, a string of altcoins were 51% attacked including bitcoin gold and verge, the latter succumbing twice. Now, another scrypt-based coin, einsteinium (EMC2), is in the spotlight after being singled out for attack.
The entity responsible, operating under the handle of "piracy1", has disclosed extraordinarily precise details as to when and how the attack will go down. The reasons stated are to "1. Demonstrate how easy these attacks are for anyone to do. 2. Generally teach people about the nuts and bolts of these attacks and potential mitigations." For interested parties, a livestream link has been provided, with the action scheduled for 4am EST on October 13.