TweakTown

Another Bitcoin exchange halts transfers over website issues

Bitcoin exchange, Bitstamp, halts all withdrawal transactions due to DDOS attack.

@CharlesJGantt
Charles Gantt
Published Tue, Feb 11 2014 5:19 PM CST   |   Updated Sat, Aug 8 2020 10:29 AM CDT

Earlier this week, I reported on Bitcoin exchange MT. Gox suspending all withdrawal transactions over a long-known bug that allows nefarious users to basically make incoming transactions appear as if they never completed. Today word has came down that another Bitcoin exchange, Bitstamp has also suspended withdrawal transactions, but this time the issue is not due to a software bug, but rather was the result of a Denial of Service Attack (DDOS).

Another Bitcoin exchange halts transfers over website issues | TweakTown.com

Bitstamp is the largest of several exchanges used for trading Bitcoins, and actually trades a little higher than Mt. Gox on average, making it a big target for attacks like these. At the time of this writing, Bitcoins were trading for $656 each, $100 higher than Mt. Gox. No further information was given on the DDOS attack, or any clue as to where it originated from, but with Bitcoins becoming more popular by the day, we can expect to see these types of attacks begin showing up more frequently.

NEWS SOURCE:techcrunch.com

A web developer by day, Charles comes to TweakTown after a short break from the Tech Journalism world. Formerly the Editor in Chief at TheBestCaseScenario, he now writes Maker and DIY content. Charles is a self proclaimed Maker of Things and is a major supporter of the Maker movement. In his free time, Charles likes to build just about anything, with past projects ranging from custom PC cooling control systems to 3D printers. Other expensive addictions include Photography, Astronomy and Home Automation.

Related Tags

Newsletter Subscription

Latest News

View More News

Latest Reviews

View More Reviews

Latest Articles

View More Articles