BitPico Takes Responsibility for Lightning Network DoS Attack

Mysterious BitPico admitted creating a network stress tool for Lightning Network
04 April 2018   146

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.

Australia joins the crypto-discussions arena with Bitcoin & Blockchain Fair

The inaugural Bitcoin and Blockchain Fair will be presented at the Sydney Showgrounds on May 12-13 with an all-round program about cryptocurrency and blockchain
21 April 2018   44

A high profile event in cryptocurrency and blockchain is coming to Sydney, Australia on May 12-13 – Bitcoin and Blockchain Fair. The conference will provide a platform to interact and discuss on all areas of the cryptocurrency and blockchain technology sectors (fintech, investment, venture capital, regulation, ICO, etc.), current opportunities and perspectives in the form of a Forum and an Exhibition Showcases.

The Exhibition Showcase that will allow to exhibit showcases and engage with crypto services providers, government and fintech startups. Forum is the bulk of the conference and is comprised of 2-day sessions to allow international speakers and industry leaders of the crypto and blockchain sectors a chance to share their expertise. May 12 is focusing on cryptocurrency and ICO engagement; May 13 wil cover blockchain technology overview, case studies, solutions and future trends.

The fair is organized by ABF Business and Principal Sponsor Coinspot. Exhibitors and Speakers include attendees from Asia, Europe and USA together with key Australian high profile crypto & blockchain enterprises. The full agenda of the event can be found here.