The best you can do to know if it was an attack is to inspect the logs when you have time. There are a lot of things that can cause a process going wild without being an attack. Sometimes, even filling the RAM can cause the CPU to appear overloaded (and will freeze the system anyway). One simple way to figure out if it’s an attack : reboot. If it’s a bug, everything will get back to normal. If it’s a DDoS, the problem will reappear up to a few minutes after reboot. If it’s a simple DoS (someone exploiting a bug of a software to overload it), it will reappear or not given if the exploit was automated and recurring, or was just a one-shot.
The fact that both your machines fell at the same time would tend to make think it’s an attack. On the other hand, it may just be a surge of activity on the network with VPSes with way not enough resources to handle it. Or it may even be a noisy neighbor problem (the other people sharing with you the real hardware on which your VPSes run who will orverload it).