Mt. Gox’s claims website is down for maintenance, while creditors seek explanations for a surge in login attempts.
Spike in Unauthorized Login Attempts
Mt. Gox creditors have reported numerous unauthorized login attempts on their accounts, raising fears of a potential cyberattack. Over the past 24 hours, the subreddit ‘r/mtgoxinsolvency’ has been flooded with posts from users experiencing issues with logging into their accounts and seeing multiple unauthorized login attempts.
A Reddit user posted, “Just received 15 notifications for account log in. Now can’t get into my account,” sparking concerns of a possible attack. Others shared similar experiences, with some posting screenshots of numerous unauthorized login attempts on their accounts.
Possible Causes and Community Reactions
While some users believe this could be a “brute-force” attack aimed at Mt. Gox creditors, others speculate that it might be a website glitch. One Redditor questioned, “Is mtgox under attack?” Another user humorously remarked, “It seems we are re-goxxed,” reflecting the ongoing frustrations of Mt. Gox creditors.
The timing of the attempted breaches has also puzzled users. One Redditor asked, “Any ideas why they would raid the system now? The coins are already at Kraken.” It’s noted that Mt. Gox does not allow creditors to change their repayment information, further adding to the confusion.
Website Maintenance and Bitcoin Distribution
Following the surge in login attempts, the Mt. Gox website entered maintenance mode, displaying a message: “Thank you for your patience. Please check back shortly.”
Mt. Gox, once a leading cryptocurrency exchange, has been working to repay its creditors. Recently, the exchange moved over 140,000 Bitcoin, worth nearly $9 billion, to a known cold wallet and two unknown addresses. To date, Mt. Gox has distributed 36% of the Bitcoin to creditors.
Market Impact
The anticipation of repayments has caused concern among market participants that the 127,000 creditors might sell off their Bitcoin holdings, potentially impacting the market. This fear contributed to Bitcoin’s drop to a near five-month low of $53,600 on July 5. However, Bitcoin has since rebounded by 20% and is currently trading at $64,470.
As the situation develops, creditors and market participants alike are closely monitoring the Mt. Gox claims website for updates.
