Hello NYCoin community! I hate to copy and paste announcements but this one is long and important and was just posted to discord.
In the past day or so a LOT of NYCoin has hit the exchanges at stupid low prices. This has spurred quite a bit of excitement and as a result, volume on exchanges has shot up dramatically. At the same time, an unknown actor has hit our network with a comparatively large amount of hash rate constituting more than 75-80% of our overall network rate. With that increased hash, blocks from known, verified mining pools have become orphaned leaving a lot of transactions in a conflicted or unknown state. This seems to be especially on transactions that are moving a large amount of nycoin off exchanges into personal wallets.
At this time, the dev team believes this is a coordinate attack on our network in an attempt to double spend coins or generally wreak havoc on our network as a whole. We do not know who the miner is nor what their actual intention may be but the recent events have raised quite a bit of suspicion that this is not coincidental.
It is recommended, until further notice, to refrain from depositing or withdrawing from exchanges, or sending large quantities of coin in a single transaciont until we can regain control of the situation.
If you want to assist in stabilizing the network and preventing such an attack from continuing to occur, we need to muster all hash power possible to the mining pools. If you have a mining device that can handle scrypt, point it at a NYC mining pool such as Hobbyistspool, nyc.mypool, Miningdutch,or Mastermining. If you can rent hashpower, even just a few GHs for a week or more, please point that hash power at a valid mining pool. If you can rent a small amount for a day, do it.
This type of attack is specifically what the upcoming fork is meant to help prevent.
We have noticed in the past day that the hashrate spikes have been coinciding exactly with large amounts of NYCoin dropping on exchanges for ultra cheap prices. This has raised some serious red flags and we are starting to get more reports of large quantity transactions not making it to their destinations. We are working with Tradesatoshi on current tickets regarding such transactions.
Once we have more information we will let everyone know, until then, be safe out there. You can monitor hashrate fluctuations from our stats page here
https://stats.nycoin.info/d/000000001/nycoin-mainnet?refresh=30s&orgId=1. I would advise against depositing or withdrawing from any exchange when there is a sudden, unusual surge in hashrate.
Since I am not on here as frequently, you can find me in the discord server here
https://discord.gg/RDan5rT or send me a private message.
If you have a large amount of coins at Trade Satoshi (where the recent volume madness has occurred), they are fork ready. Crex24 recently updated as well but the volume hasn't hit there yet.
We will get through this together. Be careful out there!
Mr Slosh
