Re: [ANN]█▅ AurumCoin AU ▅█ Welcome to Aurumcoin(AU) Project █▅ 2014-2017 ▅█
A lot of attackers to the Au coin appeared after the declared attack 51%. But no one has explained the main thing. Only the owner of more than 50% of the Au coins can commit attack 51%. Our main owner Rossen has 80% of Au coins. But he has all the coins in one wallet and the activity from his wallet for the last six months is 0%. Let Rossen show everyone screens of their transactions from the blockchain. No one has ever deceived the blockchain. Cryptopia has killed a lot of coins over the past year, for example, Pac coin. The attack 51% was announced , but no evidence was presented. But on the Coinexchange.io always sold no more than 500 coins, and now more than 1000 and all the time the number of coins is growing. Where they come from?
1) No a 51% attack on a POW coin doesn't require a lot of coins. It requires 51% or more of the mining power. (51% coin holding applies to POS coins) But with aurumcoin there are so few coins in general circulation that even a 250 coin holding puts that person in the top 100 coin wallets. So how did someone deposit 15000 coins (multiple transactions) unless they were a substantial holder.
Only 6400 coins are shared by all the wallets combined outside of the top 100 holders. The wallets of the top 50-75 holders only contain an average of 260 coin each.
It means it is is extremely likely that the attack was committed by a top 50 holder.
2) Aurumcoin has made it clear that they have no intent to communicate about it in their twitter post. Why would they not want to co operate with a coin theft investigation / discussion that occurred on their network ? (reconcile = resolve differences in financial transactions)
3) The reason for the coinexchange.io volume increase is because until recently the blockchain was dead. No new blocks found. No working block explorer. This meant no one could send coins and no one could check transactions. Coinexchange also had their wallet in maintenance so no one could deposit.. so the same person or persons that already held coins on coinexchange were buying and selling the same coins to themselves to fake the volume and price. As soon as the wallet opened for deposits there were people dumping coins and the price plummeted.
From the market data you can see that when any volume is sold the price plummets. It appears that soon afterwards a "purchase" is made (trader buying their own coins) to give the appearance that the price is higher than it really is.
As soon as real volume is sold on the exchange it sells for far less. But then a quick low volume purchase is made to give the illusion that the price hasn't plummeted.