Silk Road forums
Discussion => Security => Topic started by: organon on March 30, 2013, 12:57 am
-
Has anyone been affected by this?
Here's the article:
http://www.foxbusiness.com/technology/2013/03/29/bitcoin-exchange-mt-gox-targeted-by-cyber-attack/?intcmp=related
-
Copy paste it so we do not have to click.
-
Here:
Skip to main content: Latino/SBC/Fox Business (Home/Slideshow/Interactive: Fox News/SBC/Latino/Fox Business)
Skip to main content: Fox News/Fox Business (Article Page: Fox News/SBC/Latino/Fox Business)
Fox News
Fox Business
uReport
Fox News Radio
Fox News Latino
Fox Nation
Fox News Insider
Login
What's HotCrisis in CyprusThe Cyber ThreatSequestrationRetirementRegulation NationMarket Check
Home
Video
News
Investing
Technology
Personal Finance
Business Leaders
On Air
Small Business
Bitcoin Exchange Mt. Gox Targeted by Cyber Attack
By Matt EganPublished March 29, 2013FOXBusiness
Just as Bitcoin explodes beyond the $1 billion mark thanks to Europe’s debt crisis, the emerging virtual currency was dealt a setback this week after a key exchange was hit by a powerful cyber attack that caused delays.
Coupled with other recent technical glitches, this week’s distributed denial of service (DDoS) attack against Bitcoin exchange Mt. Gox cuts into one of the electronic currency’s greatest selling points: its relative safety compared with deposits in Cyprus.
In a message posted on its official Twitter account, Japan-based Mt. Gox told users Thursday night it was “experiencing a major DDoS” attack. Within hours Mt. Gox said the issue had been resolved.
The exchange didn’t respond to a request for further comment on the DDoS attack.
According to the Mt. Gox website, it is the “world’s most established Bitcoin exchange” and the only multi-currency Bitcoin trading platform.
"This attack demonstrates both the worth of Bitcoin and the value of its business availability. Now there are new risks to both,” said Carl Herberger, vice president of security solutions at Radware (RDWR).
Earlier this week payments startup Dwolla, which is also used to trade Bitcoins, suffered from an apparent DDoS attack as well.
Established in 2009, Bitcoin has emerged as a winner in the controversy surrounding Europe’s decision to “bail in” bank depositors in Cyprus to pay for a rescue of the tiny island country’s outsized banking system.
The virtual currency is built on an open-source software code and unlike traditional currencies is highly decentralized, making it appealing to those worried about the safety of the monetary system. Bitcoin also says its accounts can’t be seized by local authorities, setting it apart from bank deposits in Cyprus.
Underscoring the surge of activity in the virtual currency, one Bitcoin traded as high as $93.06 on Friday, up a whopping 125% from the beginning of March. The value of Bitcoins outstanding has also now surpassed the $1 billion threshold.
Bitcoin “is clearly having a breakthrough moment here, and a deeply surprising one given its novelty and nascent infrastructure,” Nicholas Colas, chief market strategist at ConvergEx, wrote in a recent note.
However, Bitcoin has also faced technical glitches, including one on March 12 that caused the currency’s value to briefly tumble 23% before recovering.
“Bitcoin is of course wholly dependent upon the functioning of the Internet,”said Daniel Friedberg, a financial-services attorney at Seattle law firm Graham & Dunn who has a Bitcoin client base.
“Users of Bitcoin are not used to any ‘down time’ and have grown accustomed to being able to immediately convert the Bitcoin virtual currency into real legal tender, 24 hours a day, 7 days a week. Any disruption at all creates customer complaints,” he said.
Bitcoin isn’t alone in grappling with cyber attacks. Hacktivists have increasingly set their sets on the U.S. financial system, slowing access to the websites of big banks like J.P. Morgan Chase (JPM) and Bank of America (BAC) in recent months.
Earlier this week Wells Fargo (WFC), the largest U.S. bank by market capitalization, acknowledged its consumer banking website was the victim of a DDoS attack.
Follow Matt Egan on Twitter @MattMEgan5
Print
Email
Share
0 Comments
RELATED STOCKS
BAC
12.18
BANK OF AMER...
-0.05
RDWR
37.73
RADWARE...
+0.61
WFC
36.99
WELLS FARGO ...
+0.01
JPM
47.46
JPMORGAN CHA...
-0.31
RELATED STORIES
As Cyprus Implodes, Bitcoin Interest Explodes
The 'bitcoin' surpasses 20 national currencies in value
MORE FROM FOX BUSINESS
Are Warehouse Clubs a Good Bargain?
The Seven States Running Out Of Water
Seven Reasons the IRS Will Audit You
Cyber Thieves Nab Billions in Tax Returns
McDonald's Cutting Two Items In Advance of New Products -Report
Big Russian money out of Cyprus; crisis endangers flows
[What's This?]
SHARE THIS ARTICLE
NEWSLETTER SIGNUP
Today's top business headlines, delivered early every weekday morning for a chance to start your day right.
RECOMMENDED VIDEOS
A Long-Overdue Correction?
Schiff: Printing Money Will Doom the U.S.
Google Glass: Kiss Your Privacy Goodbye?
Yale's Shiller Worried About Drop in Home Prices
TRENDING IN TECHNOLOGY
1
Bitcoin Exchange Hit by Cyber Attack
2
iPhones Under Siege: What Smartphones Are the Target of Hackers?
3
Amazon to Buy Review Site Goodreads
4
For Better or Worse: iPhone is Entry Level Smartphone
5
Glass Lewis to MetroPCS Shareholders: Vote Down T-Mobile Deal
See all trends
Joshi on Tech
Joshi on Tech›
Is Your Smartphone’s Browser Safe?
T-Mobile to Hold Exclusive NYC Event
Is Samsung About to Unleash an iPhone Killer?
FOLLOW FOX BUSINESS
Get Our Free Newsletter
MORE FROM
TOP STORIES
REUTERS
Will the U.S. Economy Keep Up with Wall Street?
With the markets at record highs, investors will be looking to see if the economic recovery is beginning to pick up steam when the latest round of jobs numbers are revealed next week.
News
Judge Dismisses Most Claims in Libor Suit
Technology
Bitcoin Exchange Hit by Cyber Attack
News
UPS Settles Illegal Online Pharmacy Row for $40M
News
Churchill Downs Bets $160M on Oxford Casino
Personal Finance
How to Avoid an IRS Audit
POPULAR VIDEOS
Labor Nominee Controversy
Wall Street Journal editorial board member Mary Kissel weighs in on how Tom Perez bends the law to his own ends.
Schiff: Printing Money Will Doom the U.S.
How to never get a real job and still make money
Note to Jared: Stick to Your Diet!
A Green Car's Dirty Secret?
ALSO ON THE WEB
Judge dismisses some claims in Libor suits
Top Ten: MarketWatch’s top 10 stories, March 25 - 29
Dell paints a bleak picture of prospects
Dell opted for going-private deal on bleak outlook
NewsWatch: Why bond funds and ETFs are breaking
New York Sees E-Commerce Taking Root In Big Apple
Six IBD 50 Stocks Seen Accelerating Earnings Growth
Four Stocks Joining the New High Party
Is This a Black Eye for Buffett?
Youku Tudou to Add 33 U.S. TV Shows By Year's End
Prime Instant Video Greenlights Its 8th Original Series
If Warren Buffett Were an ETF Investor
SECTIONS
Home
Video
News
Investing
Technology
Personal Finance
Business Leaders
On Air
Small Business
BROWSE
Trending
Stock Quotes
Video
Anchors & Reporters
TV Show Schedule
Tools
Topics
Mobile
Apps & Downloads
SHOWS
After the Bell
Cavuto
Closing Bell
Imus in the Morning
Lou Dobbs Tonight
Markets Now
Money with Melissa Francis
Stossel
Tom Sullivan
Varney & Company
The Willis Report
ABOUT
About Fox Business
Channel Finder
Advertise With Us
Jobs at Fox Business
Internships
Terms of Use
Privacy Statement
Ad Choices
FAQ
Media Relations
FOLLOW
Facebook
Twitter
Google+
LinkedIn
RSS
Newsletters
Quotes delayed at least 15 minutes. Real-time quotes provided by BATS Exchange. Market Data provided by Interactive Data (Terms & Conditions). Powered and Implemented by Interactive Data Managed Solutions. Company fundamental data provided by Morningstar. Earnings estimates data provided by Zacks. Mutual fund and ETF data provided by Lipper. Economic data provided by Econoday. Dow Jones & Company Terms & Conditions.
This material may not be published, broadcast, rewritten, or redistributed. ©2013 FOX News Network, LLC. All rights reserved.
-
Has anyone been affected by this?
The only ones affected were those foolish enough to actually have an Mtgox account ;D
However, now that they've dumped their US clients it might actually be time to start an account there. I'll bet their service improves dramatically now that they don't have to fear persecution from US financial regulators. Soon you may even be able to start an anonymous account there again.
-
Since when have they dumped their usa accounts?
-
2 days ago
Canadians, too.
-
However, now that they've dumped their US clients it might actually be time to start an account there. I'll bet their service improves dramatically now that they don't have to fear persecution from US financial regulators. Soon you may even be able to start an anonymous account there again.
Absolutely agree, although the conditions are still pretty harsh.
They even added a nice 1% fee for SEPA transfers, that dont cost them a cent.
-
I just logged in at mtgox and didn't see a word about it.
-
your money is in the states already
google coinlab ;)