Hijacking Bitcoin Exchange Website Attacked Via Internet Routing Infrastructure


Posted On Apr 21, 2017 04:07 PM

Bitcoin exchange website constitutes a  target of choice for attackers.  While many attack vectors have already been uncovered, one important vector has been left out though: attacking the currency via the Internet routing infrastructure itself.  

Types Of Trading Marketplace Attack By Hacking Bitcoins

1) Partition attack - which aims to partition the Bitcoin network or completely disconnect a set of nodes from the network.

2) Delay attack - which aims to delay the propagation of new blocks to a set of Bitcoin nodes without disrupting their connections.

Impact on bitcoin:

The damages caused to  Bitcoin in case of a successful routing attack can be substantial. By isolating a  part of the network or delaying the propagation of blocks, attackers can force nodes to waste part of their mining power as some of the blocks they create are discarded. Thus the bitcoin is Hijacked by the hackers.

Solution For Traders

Many Traders are worried because of this hijacking of bitcoin. If traders start their bitcoin exchange in a secured platform, they need not worry about these issues. Traders can even start their bitcoin exchange in offline. In today's world, everyone is aware of bitcoins because each day more and more people are ready to invest in bitcoins.

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