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Bitcoin Exchanges Being Hit by Denial-of-Service Attacks

Category: General News
Posted: 08:38AM

On Monday, I reported that bitcoin marketplace Mt. Gox put a halt on withdrawals indefinitely after it detected "unusual activity" and yesterday a second bitcoin exchange, Bitstamp, followed suit. According to a statement from the Bitcoin Foundation, unknown hackers "are sending 'mutated' lines of code into the program that runs the virtual currency," and these attacks are responsible for the problems experienced by Mt. Gox and Bitstamp. Spokeswoman Jinyoung Lee Englund stated that these are denial-of-service (DoS) attacks, which "do not affect people's bitcoin wallets or funds" and that no bitcoin theft is occurring.

Reuters also reports that Canada "will toughen rules targeting money laundering and terrorist financing to keep a closer eye on the use of virtual currencies," while the United States may "adopt consumer disclosure rules, capital requirements and a framework for permissible investments with consumer money."

Source: Reuters

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