BitPico Takes Responsibility for Lightning Network DoS Attack

Mysterious BitPico admitted creating a network stress tool for Lightning Network
04 April 2018   520

On March 21 we have reported about the DDoS attack on Lightning Network nodes, which was confirmed by Alex Bosworth, one of the developers of technology. The developer retwitted the screenshot of a chat with BitPico in Slack, and now there are new details of the case, that we would like to report about.

The mysterious twitter account under the name BitPico yesterday posted a screenshot and admitted creating a network stress tool for Lightning Network. According to him, the network was operating out of 8 countries running 22 attack vectors in-parallel from about 384 endpoints.

BitPico tweet regarding lightning network DoS attack BitPico tweet regarding Lightning Network DoS attack 

Developers have performed a Denial-of-Service, a cyber-attack in which the perpetrator seeks to make a machine or network resource unavailable to its intended users by temporarily or indefinitely disrupting services of a host connected to the Internet.

There is not so much information about BitPico and their indentity, but as we reported previously BitPico stated that, contrary to the statement on the refusal of the SegWit2X hardfork, it was intending to implement it. Also BitPico stated that it was controlling about 30% of the Bitcoin network hashrate.

HashFlare Users to Face Withdrawal Issues

Looks like Bitcoin cloud mining is not super profitable
18 July 2018   92

Users of HashFlare mining pool can't withdraw their funds, while their contracts are threatened with a temporary ban. Even lower restrictions on withdrawal of funds in the amount of 0.03 BTC caused problems for users, but the service raised the threshold to 0.05 BTC and 0.1 ETH . This is reported by Cryptovest.

In addition, financial pyramids are often promoted under the guise of mining contracts for cloud mining. For last few months, there was a big jump in mining difficulty of many cryptocurrencies, so, old contacts had become unprofitable.

As reported, the reason for the locked funds dates back further - at the beginning of June, so much hashing power was flowing into the Bitcoin network that contracts saw all the mined coins go toward their maintenance fee.

Currently, more and more users who have purchased contracts at earlier stages are facing the fact that they can not withdraw their funds. One of them managed to return the money spent through the bank card operator after filing a corresponding complaint.

To anybody that purchased a Hashflare cloud mining contract with a credit card, it might be possible to get a refund with that credit card as one of my followers tipped me. He bought his contracts at the end of 2017.
 

bccponzi at Twitter

The hash rate of bitcoin increased from 13 EHash / s at the beginning of the year to more than 40 EHash / s in recent months. The difficulty of mining in the present conditions depends on the circumstances of the specific miner. The cost of bitcoin mining for some of them is $ 4,400, while others spend about $ 5,800. However, in 2018, cloudy mining is called an even more dubious occupation than before, especially when it comes to mining bitcoin.