Bitcoin Forum

I'm no techie, but does this mean mtgox is under attack again? I have most of my coins on this site, scared about moving them to a wallet on my desktop (ala multibit), but this is the second day in a row I'm seeing this message. Anyone else concerned?

it happens from time to time, nothing to worry  about

still down but looks like a problem more than an attack but it could be an attack

It happens from time to time. Just stay calm and wait till they are back. Since they are the largest btc exchanger out there, they get all the attention - good or bad.

Does they cancel pending orders when they get ddos'd?

yeah, they are under an attack again. *sigh*

Yep I'm getting it too.

damn attackers :'(

This may cause another panic sell and price of btc may drop again?

mtgox sucks  >:(

panic sell at the moment.. :S

from their FB page:

I must wonder how stable a currency is when one exchange being under attack causes mass fluctuation in prices.  It's time for other exchanges to step up and start distributing the share of trades around!

I'm afraid so.
However, have faith in BTC.
The price will eventually get stable. :P

Mt. Gox is currently incapable of running a 24/7 exchange so they should just establish market hours and deal with system maintenance outside of market hours, like established exchanges do

Wish I had more money at bitstamp to buy with--it will be below $100 in a few minutes.

well ill be on as soon as there back up buying nice cheap bitcoins :D

When MtGOX reopens, we'll see buying at the cheaper prices, but only by those who were able to get out before the panic selling, visit btc-e dot com. Getting a perspective on BTC and LTC from another exchange that continues to function while MtGOX is down is very valuable. LTC, litecoin, weathering the storm well.

Glad I was on BitStamp and short, waitng for prices going down. How I love MtGox  ;D

working for me

what are the chances, when this stupid site comes back up, that someone got a hold or our bitcoins???

rather small from what i understand mtgox has rather tough encryption in place for each account

The chance of Mt Gox being breached is pretty small compared to it just not able to keep up under current load (probably due to DDoS).

Look like some obvious market manipulation. I don't think it's a hacker network. They've nothing to gain for destabilizing prices. They could easily use their botnet to mine coins, steal passwords etc.

And I wonder why I still can't post in other forums.

There is no reason to expect this isn't a "hacker network".  Buy tons of coins, wait for price to be drive up and then sell tons of coins and DDOS the site.  People panic on other exchanges and start dumping coins, people get back on mtgox and all put sell orders in because they think they're losing everything and the market continues to spiral down.  Price hits a bottom, "hackers" buy it at a discount.  They just profited.

I am done with Mtgox after today.  For whatever reason they are a target, I assume because they claim to do 80% of all Bitcoin trades.  If I had my coins with another market I would actually be able to act and try to get in on some of this action.

They way I understand it they wait till MT.Gox has a high price then they sell their coins.  When the price drops they attack it and cause it to go down hoping all their sell orders go through at the higher price rather than the lower price.

Something like that anyway.

2 possible reasons: DDoS or too much visitors

or simply mtgox are getting incapable at there old age, someone really needs to but the effort into a new exchange figures crossed based in the fing UK

My guess is Ddos  ::)


http://www.facebook.com/MtGox/posts/459849287432817 (http://www.facebook.com/MtGox/posts/459849287432817)

you think by now they would have multiple servers in mutiple data centers to spread the load and make it almost impossible to ddos them

Don't think it works that way.  Any website can be DDOS attacked no matter how strong they are.

Sell all your bitcoins when it goes back up!!

If you are looking for a legit exchange campbx has proven extremely reliable with all the functionality of a normal forex including stop-loss and FOK orders. They also offer Dark Pool trading for those who are trading larger numbers and don't want to be at the mercy of speculative manipulation. I've been using them for about a week and I have never failed to connect or had an order not execute as it should.

atually you can do it that way a ddos attack is basicly just a battle who has the most bandwidth how do you think places like cloudflare stop ddos attacks they simply have a bigger stick than the attackers

That's exactly the problem and why the attacks keep happening.

what do these hackers achieve from attacking mtgox its not liek they stealling any btc or usd, besides maybe manipulating the btc price a lil i dont really see the point of these attacks

When a company chooses a country from which to base their operations it's rarely an accident. Having multiple data centers in multiple countries means submitting to multiple sets of rules and regulations. They likely chose Japan for some friendly regulations that let them operate at greater profit.

even so they could have multiple data centers in the same country

There is always the possibility that they are using "attacks" as an excuse for incompetence or worse. It does seem odd that MtGox starts having consistent problems with "attacks" just about the time Ripple is ready for open beta. Who owns Ripple again? oh yeah the same people as MtGox.

can atually see your point maybe turning people off bitcoin on to there own run system with ripple means much more profit for them.... i wonder if theyd sell the mtgox site :D id happily buy it and shove it on some UK servers then wed have an exchange to go with out blockchain.info :D

this is a very big problem for BTC.

they have to route their traffic before it reaches the site, so they can filter it.
a P2P coin wasn't suppose to have this problems with an intermediary

I don't understand why Mt Gox doesn't invest on some better protection.
Cloudflare offers protection that can deal with hundreds of gigabits of data (proven in the spamhaus case) and it only costs $200 a month. Then there's the case where bots place hundreds of orders, well how about making people enter a capcha before placing a sell/order when they are under a high load- it's better then having the trading engine lag to heaven.

MtGox.com is like a small child, it's when everything seems too quiet and peacfull you need to be on guard.

If there is a week without trouble at MtGo, you need to be afraid - very afraid.

Finally back up with BTC at $110

I saw it came back up at 120 something - looks like they don't cancel old orders when they open.  very bad/dangerous practice.  leaves your customers open to arbitrage.

Doesn't matter what the issue is. The longer it is down the more drastic the effects on the value of bitcoin. I assume.

Anyone who knows, if the MtGox api runs while the webside is under ddos atack?

Well that was fun

The site seems to be up now.

IDK if this was a DoS attack or not, but I saw a reddit post the other day, titled, "The latest Mt. Gox DDOS may have been a turning point. The attacker lost money."

The upshot is that the attackers make money because the (D)DoS makes people panic. If we don't panic, eventually it becomes unprofitable for them to do it, so they might stop.

Article: Have We Reached A Turning Point For Bitcoin Exchange DDoS? (http://thegenesisblock.com/have-we-reached-a-turning-point-for-bitcoin-ddos/)
Reddit discussion (http://www.reddit.com/r/Bitcoin/comments/1cqtmp/the_latest_mt_gox_ddos_may_have_been_a_turning/)

Hopefully as more and more exchanges become active, attacks against a single entity will no longer be effective in driving the price one way or the other in sufficient enough amounts to make the effort pay off for the attacker. 

In the meantime hang on tight, it is going to be a wild ride as long as MtGox controls 80% of the transactions.

Looks like the price of btc is about the same before the down time. People got used to this and didn't get panic  :P

502 Bad Gateway

nginx/1.2.1

Aaand we're back!

I wonder if the size of this ddos compares to the previous one, MtGox certainly seems to have handles this one "fairly" well.

lately the site has many problems .....

Why are you more comfortable storing them online rather than your desktop?  I feel much safer storing mine on my computer.

I've since moved all my coins to mulitbit. Thing is I don't trust myself to not accidentally delete something or somehow misplace all my bitcoins or lose a password, etc. But lately, after reading on this forum that someone had all their coins stolen out of their mtgox account, I'd rather trust my rudimentary computer skills than anything or anyone online.

Short term issues don't seem anything to really worry about.

So annoying.

down again....

Is it possible to build distributed exchange?

set of trusted people can change BTC to USD and back using their bank account or/and Paypal

single transaction can be split into several $10 transactions to minimize the risk if one of the "trusted people" failed to transfer money

in order to be moneychanger you need to make a security deposit equivalent to you daily volume limit. Security deposit can be help by higher rank moneychanger.
over the time regular moneychanger can became higher rank moneychanger.
Each transaction can have 0.1% fee to cover distributed exchange risks.

User can download desktop exchange application similar to p2p client which connects to the distributed exchange network.

Apparently all the exchanges are being targeted at the moment in an attack.