Premine Stealing?

[e1ghtSpace]

Has anyone ever found a coin that just launched, then downloaded the wallet, turned off their internet and mined the first few blocks (including the premine). Then turned their internet back on, synced the blockchain and had overtaken the old chain, effectively stealing the premine?

It would be funny if this happened.
Im sure someone could do this to an sha256 coin if they had a 1th/s miner.

[illodin]

I remember one time maybe 6 months ago or so one coin forked soon after the launch and the dev lost the premine. Can't remember what it was though..

[Spoetnik]

i wonder how does that work if coins are tied to address's with private keys etc ?

[cloudboy]

i wonder how does that work if coins are tied to address's with private keys etc ?

The longest blockchain is always assumed to be the most valid. Therefore, if one's private keys has tons of coins, if your node finds a blockchain that is longer, it will sync to that one, even if your account has 0 coins.

[bitwho]

i've seen it happened a few times. most of the time there is a relunch. once i saw that that person gave the premine back..

noob codes who probably lost their coingen premine block.. funny stuff

[zing96]

I've seen premines stolen.  I can't recall which coin, but it caused a shitstorm.  And of course, proved the dev was a noob and the coin was crap.

[djm34]

I've seen premines stolen.  I can't recall which coin, but it caused a shitstorm.  And of course, proved the dev was a noob and the coin was crap.

I also remember that coin (not its name though...)  
Actually with x11 coins, I often ended with my own fork and the premine... but it never sticked

actually I don't think it is really possible to steal the premine (well unless in that previous case... and noob dev  ).
The dev just need to kill off the seed nodes and start again and call it the "correct" fork