BitPico Takes Responsibility for Lightning Network DoS Attack

Mysterious BitPico admitted creating a network stress tool for Lightning Network
04 April 2018   1511

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.

VeriBlock to Report on Mainnet Launch

VeriBlock believes their technology allows networks of other cryptocurrencies to use the bitcoin blockchain to counter the “51% attacks”
21 March 2019   81

Using the bitcoin blockchain to ensure the safety of altcoins, the VeriBlock project announced the launch of the main network. This is reported in a press release.

According to the developers, the VeriBlock technology allows networks of other cryptocurrencies to use the bitcoin blockchain to counter the “51% attacks”. The project is confident that this approach not only ensures the security of less popular networks, but also allows their developers to focus on innovation and functionality.

According to analysts of The Block, 25–45% of bitcoin transactions fall on VeriBlock. The VeriBlock network uses a consensus algorithm called Proof-of-Proof (PoP). The project seeks to ensure the safety of other blockchains by loading a snapshot of the altcoin registry into the BTC blockchain, using the OP_RETURN function and other methods to embed network state data.

The project’s website states that PoP allows altcoin networks to use the most protected Bitcoin blockchain with its Proof-of-Work algorithm.