• Creditors of the defunct crypto exchange Mt. Gox are reporting numerous failed login attempts on their accounts.
  • The situation arised as Mt. Gox started to repay its creditors.
As a researcher with extensive experience in the crypto industry, I find the recent reports of failed login attempts on Mt. Gox creditors’ accounts deeply concerning. Having closely followed the saga of this defunct exchange since its infamous hack in 2014, I am all too aware of the potential risks and vulnerabilities that come with dealing with large amounts of cryptocurrency.It seems that someone is making repeated attempts to access creditors’ Mt. Gox accounts for Bitcoin (BTC) repayments, according to multiple Reddit posts, with some users reporting up to 22 unsuccessful login attempts by Thursday.

“Recently received fifteen notifications about account log-ins. Unable to access my account now. Is it possible that Mt. Gox is undergoing an attack?” posted Reddit user ovkovk on the r/mtgoxinsolvency forum. “Fortunately, I can no longer make payee information changes. Continually receiving login emails, with a total of twenty-two thus far.”

Around fifteen other users have reportedly encountered identical login notifications, implying that an unidentified person attempted to access their Mt. Gox accounts with the intent of seizing control and potentially withdrawing any accumulated BTC.

According to the Mt. Gox claims portal, maintenance work is currently being carried out and the site is unavailable during Asian morning hours on Thursday.

I, as an analyst, would rephrase that statement as follows: Based on the experience of user u/Joohansson, prior unsuccessful attempts have been made on their Mt. Gox account. However, they mentioned that their account is secured with Two-Factor Authentication (2FA), which is a widely used security measure, adding an extra layer of protection to their account.

The user implied that an attacker might have access to many gox email accounts, attempting to guess passwords through brute force methods. This has been observed in past occurrences. With two-factor authentication (2FA) enabled, you should ideally remain secure.

Starting in early July, the defunct cryptocurrency exchange Mt. Gox has initiated the process of returning funds to creditors who were affected by a hack that occurred in 2014. The total amount to be distributed includes approximately $9 billion in Bitcoin (BTC) and $73 million in Bitcoin Cash (BCH). This redistribution is expected to continue over the coming months.

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2024-07-18 10:41