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June 29, 2017

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Mt. Gox faced 150,000 attacks per second: report

TOKYO -- Bitcoin exchange Mt. Gox faced massive hacker offensives last month, coming under some 150,000 DDoS attacks per second for several days ahead of its spectacular failure, a report said Sunday.

The Tokyo-based exchange, which filed for bankruptcy protection in February and admitted that it has lost half a billion dollars in the digital currency, has come under serious cyber-attacks in particular since around Feb. 7, the Yomiuri Shimbun reported.

While Mt. Gox faced hacker attempts to steal Bitcoins, the exchange also confronted massive distributed denial-of-service (DDoS) attacks, crippling its systems, the newspaper said without naming its sources.

Under DDoS attacks, hackers hijack multiple computers to send a flood of data to the target, crippling its computer system.

The attacks on Mt. Gox lasted for several days and many Bitcoins were stolen, the Yomiuri said.

Mt. Gox's lawyers said 750,000 Bitcoins belonging to the firm's customers had gone missing, along with around 100,000 units that the company owned.

Unlike traditional currencies backed by central banks, Bitcoin is generated by complex chains of interactions among a huge network of computers around the planet.

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