MtGox Claims Hacked 150,000 Times Every Second

The now closed MtGox Bitcoin exchange site claims to have been experiencing over 150,000 hacker attacks a second over the course of several days. This is said to be the reason for the collapse of the platform which lead to them filing for bankruptcy in February. MtGox was hit with DDoS attacks, which are so called denial of service attacks.

Lawyers of MtGox now claims that these hacking attacks, which lasted for days, are to blame for the around 750,000 missing Bitcoins. They say that the hackers were successful in hacking MtGox and steal the Bitcoins, which are estimated of having a worth of around $575 million.

It would have taken a large group of experienced hackers to be able to perform such an attack on the site and so far nobody has taken responsibility for them. If the Bitcoins were truly stolen, then MtGox has been caught lying once again, as they claimed that a transaction malleability was the reason for the delay in withdrawals.

More than 400 people from all over the world has gone together to form a class action lawsuit against the Tokyo based Bitcoin exchange, in hopes of receiving either their Bitcoins or money at the same value as their Bitcoins back. While this may seem like an impossible task if MtGox were truly hacked, it is a known fact that MtGox has made tons of money through the fees on their site and should have some sort of financial backup to pay out at least a portion of the funds.

Daniel Allermand

Daniel Allermand is a freelance writer, with more than 4 years of experience in the industry as an operator, affiliate and poker player. Daniel has decided it was time to try and bring more coverage about the industry to the general public by writing articles about everything from poker to casino.  

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