Is this an Error or a 51% attack?

[mylinx]

Hey guys,

We launched our coin a couple of days ago (ANN - SOURCE).

The max supply of this coin is set at 100,000,000 and the current block reward is 50 coins.

The launch was great and the coin got a lot of interest right away with the network hashrate reaching nearly 5 GH/s not long after the ANN was posted.

During the sudden and massive increase in nethash a number of insanely large block rewards appeared in the block chain.

Example 1 Example 2 Example 3

Since the nethash levelled off at around 1.5 - 2 GH/s everything has been fine.

Could this be an error or is it something more sinister?

Can anybody shed any light please as I need to take some action one way or another.

Thanks in advance!

[sp_skeptic]

Why do you think those 999xxx unit transactions are block rewards? Each of those suspect blocks contain payouts of (very close to) 50 units which appear to be the block rewards - moreover at least one of (on a cursory examination) the destination addresses of these 50 unit payouts in the suspect blocks are repeated in the block rewards of other blocks, so presumably they are going to the same miners which confirms that they are indeed the block rewards for those blocks.

So the 999xxx unit transactions do not appear to be block rewards at all. This is very close to your 1% of 100,000,000 total unit = 1,000,000 unit premine. It appears that someone is moving the premine around.

[mylinx]

Why do you think those 999xxx unit transactions are block rewards? Each of those suspect blocks contain payouts of (very close to) 50 units which appear to be the block rewards - moreover at least one of (on a cursory examination) the destination addresses of these 50 unit payouts in the suspect blocks are repeated in the block rewards of other blocks, so presumably they are going to the same miners which confirms that they are indeed the block rewards for those blocks.

So the 999xxx unit transactions do not appear to be block rewards at all. This is very close to your 1% of 100,000,000 total unit = 1,000,000 unit premine. It appears that someone is moving the premine around.

Firstly, thank you for the reply SP, appreciate it.

After a crazy few days with very little sleep your answer finally made me realise what is happening.

You are correct - this is the premine being moved around.

We did an airdrop via Twitter of 100 coins per person - paid from the premine. if you look at each of those near million transactions you can see that they are 100 coins less than the previous amount.  These transactions are just the remaining balance of the premine being sent back to another address and not being generated out of thin air as I suspected. I'll be honest, with code blind eyes I was seeing those transaction amounts with the decimal point moved one space to the right, so I was thinking that these amounts were close to the max money supply.

Thank you once again bro, sometimes you just need another pair of eyes

[Ayers]

most likely a bug or exploit, why someone should do a 51% attack to a coin that have no value and kill his own possible profit? this is very stupid and no one will do it, doing a 51% also is not very easy you need a private network and a strong hahsrate and you need that the coin is on exchange so you can do double spending