Bitcoin Exchanges HackedAdded: Tuesday, February 25th, 2014
Category: Recent Headlines Involving File Sharing > Current Events
Tags:ET, p2p, Torrent, Piracy, Peer To Peer, Network, Hackers, Internet, BitTorrent, Google, utorrent, bitcomet, extratorrent, 2013, www.extratorrent.cc
The infamous cyber currency is seen walloped by attacks from some computer hackers. Security experts found that someone is sending “mutated” lines of code into the app running Bitcoins.
It is known that the attacks have already caused major headaches for 2 Bitcoin exchanges, because they had to temporarily halt withdrawals by users who stored virtual currency in digital wallets provided by the exchanges. Bitcoin Foundation confirmed that the exchanges suffered from a DDoS attack. However, they explained that hackers are not stealing coins, but rather are preventing some transactions from confirming. In other words, the trouble doesn’t affect customers’ Bitcoin wallets or funds.
Bitcoin Foundation announced that a team of core software developers focused on Bitcoin have been working to fix the problem, but until then some users could be unable to do anything with their coins, while the affected funds would be “tied up” in transactions. Apparently, the only people who will suffer are users making multiple transactions in a short period.
Media reports confirmed that the Slovenia-based Bitstamp is one more Bitcoin exchange to halt customer withdrawals in the recent days, citing “inconsistent results” and blaming a DDoS attack. That was a day after Mt. Gox, the famous digital marketplace operator, claimed a halt on withdrawals would continue indefinitely. Many traders reacted to the halt and sent the value of Bitcoin to its lowest in nearly 2 months.
It was definitely not the best days for the virtual currency, as the US, Canadian and Russian authorities ordered investigations into Bitcoin. As for the Russians, they insisted that Bitcoin violates the law and can be used for money laundering. In the meantime, Canada claimed it will toughen rules targeting money laundering and terrorist financing and keep a closer eye on the use of digital currencies. Finally, New York’s Department of Financial Services is going to adopt consumer disclosure rules and capital requirements, along with a framework for permissible investments with consumer money.
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Tuesday, February 25th, 2014
|Give me control of a nations currency and I care not who makes its laws.|
|I pray that BitCoin will find a way.|
|States will do anything and everything to stop this currency. The control of currency gives them power to silently steal your money from you by diluting it. I would not at all be surprise to find out this disruption was because of the US's cyber team.|
|LOL take off that tinfoil hat. Realize that in all likelihood it is simple thieves at work.|
|# 4 is that you snowden?|
|posted by (2014-02-26 09:03:55)|
|How do you know it ain't the banks or "governments" doing this? A formal exchange of bartering and they don't like it..|
|My gut feeling immediately was that this is the big G disturbing transactions and confidence in the currency.|
|Bitcoin code changes will be necessary to develop any fledgling currency. Crypto currencies are a new paradigm and they are the right tool for the right time in history. The beauty of crypto currencies is there is no bank. There is only billions of people with wallets, and money in those wallets. Control of money by the people. Not control of fiat money that others hold for you and use for their own purposes. Money democracy.||
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