Who is behind DDoS attacks on MtGox?

[dadrizforshizz]

Per Cnet article: "Attackers wait until the price of Bitcoins reaches a certain value, sell, destabilize the exchange, wait for everybody to panic-sell their Bitcoins, wait for the price to drop to a certain amount, then stop the attack and start buying as much as they can," the Japan-based exchange said in a statement at the time. "Repeat this two or three times like we saw over the past few days and they profit."

Any truth to this, or something deeper behind the scenes?

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[btcforall777]

either that or its the government. i say this because of the size of the attacks. just speculating

[desired_username]

I found this https://community.rapid7.com/community/infosec/blog/2013/04/12/botnets-and-the-war-on-bitcoin on the subject.

[zeroday]

Actually I can't blame attackers as they've given me a unique possibility to buy BTC at $55 
And lots of Pigs have just learned a lesson.

[dadrizforshizz]

Actually I can't blame attackers as they've given me a unique possibility to buy BTC at $55 
And lots of Pigs have just learned a lesson.

from the title under your avi it would appear you are "Against financial slavery" yet call people who lose their ass buying BTC and lose [fiat] money "pigs"....oh the hypocrisy   

[AlphaWolf]

Actually I can't blame attackers as they've given me a unique possibility to buy BTC at $55 
And lots of Pigs have just learned a lesson.

from the title under your avi it would appear you are "Against financial slavery" yet call people who lose their ass buying BTC and lose [fiat] money "pigs"....oh the hypocrisy   

Did you try clicking on the link he provided?  It might have saved you some embarrassment...


"Bulls Make Money... Bears Make Money... Pigs Get Slaughtered..."

[dadrizforshizz]

Actually I can't blame attackers as they've given me a unique possibility to buy BTC at $55  
And lots of Pigs have just learned a lesson.

from the title under your avi it would appear you are "Against financial slavery" yet call people who lose their ass buying BTC and lose [fiat] money "pigs"....oh the hypocrisy  

Did you try clicking on the link he provided?  It might have saved you some embarrassment...


"Bulls Make Money... Bears Make Money... Pigs Get Slaughtered..."

lol I know what a "pig" is; you dont get it. Bitcoin is supposed to be a way out of financial and big government slavery, yet 90% of the people on this forum are just huge shills for the big banks who deep down on the inside want to make more "fiat" money...

still not embarrased... are you?

Bitcoin isn't a revolution it just appears it is causing massive greed.

[AlphaWolf]

lol I know what a "pig" is; you dont get it. Bitcoin is supposed to be a way out of financial and big government slavery, yet 90% of the people on this forum are just huge shills for the big banks who deep down on the inside want to make more "fiat" money...

still not embarrased... are you?

Bitcoin isn't a revolution it just appears it is causing massive greed.

Not really (embarrassed).  I understand better what you were trying to say, though, so I apologize for my tone.  The way I see it, the low price lowered the barrier to entry into the Bitcoin world for all of those who were not aware of it until recently.  It was the greedy who lost (fiat) money and learned a lesson...  They chose to remain enslaved by trying to get rich instead of buying into the concept.  To me, "pig" is an accurate label for these people.  I don't see anything hypocritical about calling such people a name that originated in the world in which they choose to live.
Bitcoin "believers" on the other hand are better off -- both in terms of freedom and coincidentally in terms of what the other world might call their "portfolio".  Is there greed?  Certainly... lots of it.  But there's still a revolution occurring, even if the general public is to blinded by greed to see it.

[legitnick]

either that or its the government. i say this because of the size of the attacks. just speculating

They have an army of whitehats to their disposal but I don't think they would use a method that can only disrupt the price and targeting the exchange will only make bitcoin stronger.

[QuantPlus]

Per Cnet article: "Attackers wait until the price of Bitcoins reaches a certain value, sell, destabilize the exchange, wait for everybody to panic-sell their Bitcoins, wait for the price to drop to a certain amount, then stop the attack and start buying as much as they can," the Japan-based exchange said in a statement at the time. "Repeat this two or three times like we saw over the past few days and they profit."

Any truth to this, or something deeper behind the scenes?

Just follow the money...
The exchanges profit the most from volatility and conveniently timed shut-downs...
Anyone can hire a BotNet and stage a DDoS attack.

I'm sure Gox has made 100 times more from BTC ownership...
And ongoing, expert market manipulation...
Then they have from their dinky 0.5% trading fees.

People think the NYSE is some kind of pillar of society...
There to do noble work for the little people.

Sorry, no... they are just a bunch of white collar crooks...
As a Pro Trader for 15 years I'm deeply cynical where $$$ is involved...
Human nature is what it is.

[sunblaster]

Speculators

[prof7bit]

DDoS doesn't move price anywhere. The last few larger (many hours) DDoS events havent moved price down or in any particular direction, not even the tiniest bit! You couldn't even see anything in the price charts! Two days ago after another extremely strong multi-hour DDoS and after MtGox has come back after two hours price went exactly sideways for another few hours and then it slowly started rising from the 90s to around 130!

If the attackers bet on falling prices during/after every DDoS they will be bankrupt in a few more days/weeks. I doubt the attackers are so stupid that they don't realize that. Obviously the motivation must be something completely different.