Numerous bitcoin exchanges come under massive and concerted DDOS attack
On February 11, 2014, a significant Distributed Denial of Service (DDoS) attack targeted multiple Bitcoin exchanges. This attack was described as “massive and concerted,” orchestrated by a bot system that disrupted the operations of several exchanges. The attack exploited a known issue in the Bitcoin protocol called “transaction malleability,” which allowed attackers to create confusion over transaction identities.
As a result of the attack, Bitstamp, one of the major Bitcoin exchanges at the time, suspended all Bitcoin withdrawals. Another exchange, BTC-e, announced possible delays in transaction crediting due to the attack1. The DDoS attack did not lead to the theft of any coins but succeeded in preventing some transactions from being confirmed, effectively tying up bitcoins in unconfirmed transactions.
The Bitcoin community, including exchanges and core developers, responded with a coordinated effort to address the issue. The attack highlighted the need for robust security measures in the cryptocurrency space and led to improvements in the network’s resilience against such threats. Despite the challenges posed by the attack, the Bitcoin network continued to operate, and exchanges worked to resume normal operations as quickly as possible.
