More DDoS Attacks on Bitcoin (BCH-SV) Friendly Websites

More DDoS attacks on Bitcoin (BCH-SV) friendly websites

If the only defence of your policies is to silence your critics, the chances of your ideas being the wrong ones are pretty high.

Over the past week, CoinGeek.com has suffered through several distributed denial of service attacks (DDoS). The first one was a big one, and we had to upgrade our defences. Thank-you to the beautiful people at Cloud Flare, subsequent attacks have caused minimal disruptions.

On Thursday BitcoinSV.io was hit with a massive DDoS attack.

The attack comes soon after the website published a listing of wallets, block explorers and other business and services that have chosen to add their support for Bitcoin SV after the ABC decision to move away from Bitcoin BCH.

The timing of these attacks could be coincidental, but the timing of the attacks is somewhat suspect. We won’t cast aspersions towards any of the bastions of free speech in the bitcoin community, but it does highlight a problem with society in recent years.

I was always led to believe that you let your opponent talk and you listen. You present your well-reasoned arguments and allow the better ideas to succeed for the betterment of the society.

With their most recent changes, 5th since the upgrade, ABC’s critics continue to grow. People are critical on social media, and now the mainstream tech press is starting to join the chorus of critics admonishing the Bitmain and Bitcoin.com funded group of developers.

TNW, formerly known as The Next Web, has written a scathing article titled “Bitcoin Cash ABC update exposes potentially catastrophic vulnerability” where it highlights the vulnerabilities opened up by ABC’s slapdashed approach to blockchain development.

For many on Twitter, the checkpoints are a bridge too far as it removes the security provided by the proof of work principal as laid out in the original whitepaper, with many saying and we agree, that ABC is no longer Bitcoin.

The move removes the trustless decentralized system, and it allows a “trusted central authority” to publish these checkpoints. Ask yourself, whom do you trust? Roger Ver, Jihan Wu or Amaury Sechet, I’m sure they’re all nice people to share a meal with but do you trust them with all your money?

DDoS attacks, several updates untested updates and all manner of collusion with wallets and exchanges seem like the actions of desperate men.

There are rumours that the Chinese government is behind this or there is a secretive cabal trying to control the chain for nefarious reasons. I believe it’s much simpler than a crazy conspiracy; this is about plain old-fashioned greed.

The group is desperate to make Wormhole token a thing. Back in August, there was an offer, 1000 wormhole tokens for every BCH burned. This 1000-1 ratio isn’t for everyone, the general public would be and will be offered 10-1 rate when wormhole becomes a widely accepted token.

My sources tell me that Jihan, Roger and a few trusted allies either orchestrated or took advantage of this 1000-1 proposal.

Despite crowing from Ver, the hash war isn’t over and as the chorus of dissent against ABC’s move away from Bitcoin grows louder, and the support for SV swells, we expect more attempts to silence the critics but you can’t DDoS the planet.

Blockchain startup Electroneum suffers DDoS attack shortly after token sale​

Developers have been pulling all-nighters all weekend to fix things as they fall behind their software launch.

Electroneum, a blockchain with the cryptocurrency ETN that allows people to mine simply through their smart phones, successfully amassed $40 million in its ICO from September 14 to October 31 with over 120,000 contributors and 300,000 users registering. But shortly after, the blockchain fell victim to a distributed denial of service (DDoS) attack, locking users out of their account for days and ultimately forcing the startup to postpone the launch of their online and mobile wallets, as well as their mobile miner.

The UK-based startup issued a statement through their website, saying they have reset all passwords as a preventive measure. There was no mention of any funds lost yet.

Some users have expressed dismay over Electroneum failing to anticipate such an attack through thorough testing before getting listed in exchanges, especially considering the fact that they have $40 million in the bank. Updates on their Facebook page have been consistent, on the other hand, saying they have been relentlessly working on the code over the weekend.

Initial coin offerings (ICOs) attract a lot of investments despite a lack of regulation and protection. The cryptocurrency boom has seen a few cryptocoins rising exponentially in value. Due to this perception of potentially high profits in a substantially small amount of time, the cryptocurrency trade has seen investors—both professionals and amateurs alike, flocking to online exchanges to trade, and actively seeking out ICOs.

While it is true that such investments could possibly yield exponential profits, people should read up and do a thorough background research on the ICO’s they intend to support, as well as the people behind the company. At the moment, legislation is not fully equipped to protect ICO investors, or to rectify any wrongdoing should the people behind the ICO fail to fulfill agreements or decide to completely ghost out on investors. In some cases, the promise of “shooting to the moon” could very well end in a ball pit of tears.

Blockchain startup Electroneum suffers DDoS attack shortly after token sale​

Developers have been pulling all-nighters all weekend to fix things as they fall behind their software launch.

Electroneum, a blockchain with the cryptocurrency ETN that allows people to mine simply through their smart phones, successfully amassed $40 million in its ICO from September 14 to October 31 with over 120,000 contributors and 300,000 users registering. But shortly after, the blockchain fell victim to a distributed denial of service (DDoS) attack, locking users out of their account for days and ultimately forcing the startup to postpone the launch of their online and mobile wallets, as well as their mobile miner.

The UK-based startup issued a statement through their website, saying they have reset all passwords as a preventive measure. There was no mention of any funds lost yet.

Some users have expressed dismay over Electroneum failing to anticipate such an attack through thorough testing before getting listed in exchanges, especially considering the fact that they have $40 million in the bank. Updates on their Facebook page have been consistent, on the other hand, saying they have been relentlessly working on the code over the weekend.

Initial coin offerings (ICOs) attract a lot of investments despite a lack of regulation and protection. The cryptocurrency boom has seen a few cryptocoins rising exponentially in value. Due to this perception of potentially high profits in a substantially small amount of time, the cryptocurrency trade has seen investors—both professionals and amateurs alike, flocking to online exchanges to trade, and actively seeking out ICOs.

While it is true that such investments could possibly yield exponential profits, people should read up and do a thorough background research on the ICO’s they intend to support, as well as the people behind the company. At the moment, legislation is not fully equipped to protect ICO investors, or to rectify any wrongdoing should the people behind the ICO fail to fulfill agreements or decide to completely ghost out on investors. In some cases, the promise of “shooting to the moon” could very well end in a ball pit of tears.