Bitcoins HACKED
 

http://www.bbc.co.uk/news/technology-22026961

Hack attacks hit Bitcoin exchange rates

"Online services and exchanges dealing in Bitcoins have been hit by hack attacks that led to a drop in the value of the virtual currency.

Trading on the MTGox exchange, which handles most trades in Bitcoins, was sluggish yesterday as the site fought off an attack.

The attack helped to force a swift fall in the price of Bitcoins.

In addition, the Instawallet website - where people store Bitcoins - is offline indefinitely after an attack.

The value of Bitcoins surged to a new high this week with each one worth about $142 (£94). Barely a week ago, each virtual coin was worth only $90.

But Bitcoins dropped sharply in value as the MTGox exchange came under a sustained attack by hackers. The vast majority of trade in Bitcoins takes place via the site.

In a tweet on its Twitter feed, MTGox said it was fighting off a distributed denial-of-service (DDoS) attack, which involves a site being bombarded with huge amounts of data. The attack was one of several against the site this week,

The attacks, coupled with a spike in trading volumes, combined to cause delays in trades being confirmed and led the value of Bitcoins to drop sharply to about $120.
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The attacks could be the work of malicious hackers who were trying to 'game' the MTGox exchange?

The attacks could be the work of malicious hackers who were trying to "game" the exchange and manipulate the value of Bitcoins so they could cash in, MTGox said in an interview with ComputerWorld. Attackers are thought to be working to a cycle in which they sell Bitcoins when values are high, then mount an attack that forces prices to crash, buy up the cheaper coins and then let the value climb again.

MTGox said it did not know when or if the attacks would cease but said Bitcoin owners should not panic and sell off as values fluctuated. A spokesman for the exchange added that it was in the middle of rebuilding its trading technology but the new system, which would do a better job of handling the high volume of trades, would not be ready until the end of this year.

In a separate development, Instawallet has shut down "indefinitely" after hackers "fraudulently accessed" its core database. In a statement posted on the Instawallet site it said it planned to open a claim process shortly so people could reclaim their Bitcoin balance."

how does this fit into your conspiracy theorist agenda?

people should stay with the dollar, since it's backed by the faith and promise of a government.

shit. was just about to plow my life savings into bitcoin. :upsidedow

This article is pretty retarded and Instawallet's ordeal had very little effect on the price of Bitcoins....not to mention the queue for people BUYING is huge at Mt. Gox...price keeps going up!

Like a glove I bet :pimp

there's always facebook, it's back to ~60% of it's initial $100 billion valuation.

seem legit.

You have to be an idiot to keep all your Bitcoins in an online wallet.

Great stuff, price goes up.

Yo retard, show me how Bitcoins are hacked.

Who benefits, that's what we need to ask.

:1orglaugh I'm not blocked anymore then

backed by the faith and promise of a government.:1orglaugh :1orglaugh :1orglaugh :1orglaugh :thumbsup

So bitcoin got hacked when the "hackers" did a DDOS attack on mtgox which is only a bitcoin-exchange site....?

Retarded thread-title.

how does a DDOS attack mean bitcoins were hacked, lolwut. The attack was aimed to drop the price of bitcoin so that the attackers could scoop it up on the cheap, :p

exactly! it's wehateporn posting this, and he chose a *bitcoins HACKED* subject.



this thread was off the rails before it ever left the station.

if its that easy to manipulate then its going to continue to happen.

oh, lol, i was being sarcastic. :1orglaugh i found it ironic whp would post a thread topic like this in-between threads about *the government!*

Just like most of his titles. The guy is suck a fucking retard. Unbelievable.
I have him on ignore but i still have to see his daily nonsense...

It's that easy to manipulate anything really. Cause panic and people will sell sell sell. When hedge funds sell off mass shares of any stock it causes people to panic because they don't know why the stock is dropping so quickly so they sell sell sell. Then the hedge fund can buy it back up after the panic is over.

no doubt about it. plan on losing 100% of your ducats speculating btc. from many reports, the next 6-8 months will be a bumpy ride for btc while the infrastructure is sorted out.

:1orglaugh:1orglaugh

ok, go on, i'm listening.....who benefits?

ok,i've done a cursory look into this, i've researched "who benefits from btc bubble" and nothing suspicious comes up, i've looked at 10 of the largest btc account activity and nothing suspicious over the last 2 days and i've looked over all btc transactions off the blockchain from the last 2 days and no huge transactions.

holler at me with what you've come up with and we can compare notes.

You can work that out for yourself :pimp

Seems like it was quite a good headline, would have sold more newspapers than a boring one :winkwink:

Bitcoin Hacked: Price Stumbles After Buying Frenzy
http://www.cnbc.com/id/100615508

Bitcoin Hacked
http://www.thedailybeast.com/cheats/...in-hacked.html

Bitcoin Hacked: Price Stumbles
http://finance.yahoo.com/news/bitcoi...103848677.html

i am trying to work it out, in fact, i would like to know as much as possible about it.

but isn't this your thread? weren't you the one who stated we need to ask who benefits?

That's not how the conspiracy imbeciles work.
They start ridiculous threads with crazy claims. As much as possible on non conspiracy forums. They feel the need to tell us about all these conspiracies but when you ask for details they refer you to Google.
It's the same in every thread.
They are a sad, sad group of people.

It's not a conspiracy thread, you were the one who first mentioned conspiracies

Tokyo-based Mt.Gox announced overnight that it had been the victim of a hacking attack after experiencing a severe lag with its systems

i hear ya. but just like many other of the theories, i'm open to it, if it makes sense. hell, i even took to goog myself to see if there's anything out there.

nevertheless, a lot of us know who benefited from that attack yesterday, or we know the logic/strategy behind it-

there's a lot of market manipulation right now and attempts to influence prices. hell, not unlike any market, nyse, all of them are run on hearsay and behind the scenes drivers.

at least with btc we stand a chance of learning about it on the frontend as opposed to never learning about it.

look, i asked how this topic fits your conspiracy agenda and i think it's a valid question. i mean if you can find anything that is more anti-gov than btc, then lay it on me so the topic did make me wonder where you are coming from.

but your reply was to look who benefits. and i'm up for that. i looked, couldn't find anything and asked if you find anything, post it here,.

let's try and stick to facts about btc, there is enough nonsense about it, that's my only intent here.

how can you hack a bitcoin ?

If you pay for porn with Bitcoins, are they then considered Titcoins?

:thumbsup:thumbsup:thumbsup:thumbsup:thumbsup

Ouch. This is a huge weakness in btc and will ultimately help lead to its failure unless they can prevent this from happening over and over and over again. A real investor with real money isn't going to mess with something that kids can manipulate every week. Something like this is exactly the sort of thing that can stop it from becoming used by everyone.

here's the thing though, all markets are manipulated from the inside at one point or another and to some degree.

btc will never be immune to that, constant vigilance will be the norm.

nevertheless, it is a big problem right now, even dwolla was ddos'ed, at the same time too.

i can only assume that by denynig service at dwolla manipulated people's ability to move money into and out of their mtgox accounts.in a way the hackers wanted.

100% correct. The difference is, big investors (along with the Gov / Wall Street) are the ones who manipulate the real markets. Kids and hackers are manipulating bitcoin, and that will keep away big investors. If I had to choose between a Wall Street or billionaire manipulated market vs a group of Russian hackers and script kiddies, I'm choosing Wall Street. I at least know there will be a tomorrow with Wall Street.

actually, i'd bet some heavy hitters are doing this...maybe they are kid hackers but they could be holding several hundred thousand btc and put together a heavy handed ddos on multiple sites.

but i'm planning on wall street getting in, and soon. there's already mumbling about how to short btc and how hedge funds can incorporate it into portfolios.

and i want to be on this side of the investment window with my little handful of btc when they start fucking with the puppet strings.

This Week in DDoS:

Just not by hackers. Of Course there are the big traders on wall st who move the markets. But at the same time, if you invest in sound companies that that pay dividends and show a profit. You actually stand a chance as an individual investor.