Bitcoin Forum

I was thinking about why the ... would somebody attack MTgox . Even if Gox goes down there are too
many alternative exchanges already operating and gaining popularity.

One possible scenario:

0. I am a scam !
1. I have $100 000.
2. I fund my MTgox account.
3. I open a position somewhat 10 - 15 % below market price.
4. I perform heavy DDoS attack on Mtgox.com
5. N00bs panic and SELL SELL SELL !
6. I got some cheap coins.
7. Price is back to normal within 1 - 2 hours.
8. I have $10 k more in my account.

Mtgox could check their logs for such behavior (if not done so already) and do what they have to.

How would they be able to sell to you if the site is down due to DDOS?  :D

The site does not need to be completely down.

Huge delays on each click are enough for some people.

I witnessed such kind of price drop for no other reason then Mtgox lag.

Other exchanges were not affected by that particular drop.

MTGOX is just saying "Database access error, please retry later" right now  ???

Are you guys saying that you cannot use Mtgox service?

If that s the case then something very suspicious is going on.

Since two days ago bitcoin-central, another big exchange site, also went down for security reasons.... ???

UP now.

It seems like MtGox and some of the other exchanges should node other there server load to other servers. I also think that more exchanges (reputable and well run) will start popping up soon and will make the DDOS attacks slow down. Think about it, there are thousands of banks and fiat currency exchanges that rarely if ever experience a DDOS attack.

I'm sure they(banks) often experience DDOS attacks. But uptime is crucial and they spend hundreds of thousands, if not millions on keeping it up. No matter what.

Very interesting situation. 11k+ in the queue to be verified to put money into an exchange undergoing a DDoS. Very interesting days of late.

They were in the queue before the DDoS started. huh

Seems to have happened twice today. A major sell, followed by lots of 0.02 trades that kills the site. No doubt they buy back in afterwards at a tidy profit.

aggreed.. having money around to buy during these dips is easy profits...
the one a while back i got luck and sold pretty high,, and bought at bottom..
i didnt do the attack.. just noticed it dip friday night and sold... bought when it started rising again

As an industry, tens of billions. But that doesn't mean similar up-times cannot be achieved for less. Even with DDoS attempts.