UPDATE: A FEW WORDS FROM ME (THE HEAD DEV):
I sincerely apologize that the coin has been subject to an attack twice. This is emerging technology and I am relatively busy in the real world. However, I assure you, this coin is my passion and my real joy.
The problem was that the exchanges had a majority of the coin in their wallets and exchanges do not stake aka "mine". So someone did not need 51% of the 60 mil total coins. They only needed 51% of "staking coins". Being that most coins were on the exchanges, the attacker was able to figure out a double spend method without 51% of total coins.
Mintpal does not have the double spend coins. I dont know what the attacker did with them. SO HERE IS THE PLAN.
1. We are going to make a new coin with 60 million total supply and a lower interest rate (5%)
2. We are setting up a db to allow people to send in their old coins. IF YOU HAVE COINS ON AN EXCHANGE, LEAVE THEM THERE.
3. Any wallets created after 5/16/14<--THE DAY OF ATTACK, are invalid and WILL NOT RECEIVE NEW COINS. This will eliminate the attackers stash of coins and we will be left with a surplus. Mintpal lost 22 mil coins from the double spend. We will reimburse Mintpal, so that they can give users back their coins.
4. The board members have decided to keep all of our coins in 2 or 3 wallets and have them staking 24/7. This will make sure that there is always a sufficient amount of coins "minting" and will nearly eliminate 51% attack potential.
5. This will take time and we ask you to bear with us. Again, I apologize for this. Thank you all.
Please do not send emails to Mintpal, Polo,or Bter they are aware of what is going on and your coins are safe.
