10 Apr '13, 7pm

Bitcoin Suffers A Correction Amid Apparent DDOS Attacks On Some Exchanges

Bitcoin Suffers A Correction Amid Apparent DDOS Attacks On Some Exchanges

Bitcoin is undergoing a classic correction after quintupling in price over the past 30 days. The currency, which was trading as high as $265 earlier today on Mt. Gox, plummeted and is now trading at around $150 . We’ve reached out to one of the biggest exchanges, Mt. Gox, to see what happened. But another San Francisco-based exchange called TradeHill is saying that the crypto-currency is falling because of apparent distributed denial of service attacks on Mt. Gox and Bitstamp. A denial of service attack happens when an attacker overwhelms a target with external requests, so that it can’t honor regular requests from legitimate users. This also happened last week when Mt. Gox when Bitcoin reached $142 and hackers attacked the exchange. At that point, Mt. Gox said it had suffered ”its worst trading lag ever.” The Tokyo-based exchange said last week that hackers are engaging i...

Full article: http://techcrunch.com/2013/04/10/bitcoin-crash/

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4 April 2013 Last updated at 11:28 GMT Share this page Delicious Digg Facebook reddit StumbleUpon Twitter Email Print Hack...

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bbc.co.uk 04 Apr '13, 11am

4 April 2013 Last updated at 11:28 GMT Share this page Delicious Digg Facebook reddit StumbleUpon Twitter Email Print Hack...