On October 7, an anonymous hacker GeoCold announced that on October 13, 3:00 CDT he would be doing a 51% attack against the cryptocurrency Einsteinium (EMC2).
He also provided reasons for this attack:
- To show how easy these attacks are and perhaps be something of a wake-up call to small coin to adopt mitigations to these attacks.
- Educate people on the nuts and bolts of how these attacks work and discuss possible mitigations.
GeoCold adds that if they get $300-500 in donations they’ll have the money to buy the required hashing power to attack Vertcoin (VTC).
“If we go under our goal we’ll do a larger coin but not Vertcoin, if we go over, the remaining money will go to the EFF,” – writes GeoCold.