jesus...cryptoknight.cc is currently finding about 15 blocks a minute...that's a rate of over 400 million coins per day...hope this thing gets sorted out soon or some idiot is going to end up w/ 90% stake in a worthless coin
Yes, it reached more than 30 MH for a while to take a large amount of coins while the network hash is only less than 3 MH. It is really very bad. It can make this coin getting to 1 sat, but no one wants to buy.
Even if this happened for a short time window it destroys the value of a coin so hard. That dude could dump loads and make every single buy order disappear.