Mt.Gox Claims Site Down Amid Suspected Brute-Force Attack: Users Report Multiple Login Attempt Emails

The Mt.Gox team claims the site has been down for over a day, with users reporting multiple failed login attempt emails, raising concerns of a possible brute-force attack. Some users received these emails even before entering their 2FA codes, questioning the site’s security measures.

Mt.Gox was once the world’s largest Bitcoin exchange, handling most Bitcoin transactions. It collapsed in 2014 after losing hundreds of thousands of Bitcoins, highlighting major security flaws in cryptocurrency exchanges and impacting the perception of Bitcoin’s security and regulation.

In the latest developments, Mt.Gox claims the site has been down for more than a day, showing a “maintenance” message, which has worried many MtGox creditors about their account safety. 

Some people took to Reddit to talk on this matter to unearth the main incident. 

Reddit users have reported receiving multiple emails about failed login attempts, suggesting a possible brute-force hacking attack. Some have received as many as 22 such emails. 

One user speculated if this hack could be linked to recent news about Kraken, another crypto exchange.

Notably, some users reported getting these login attempt emails even before entering their two-factor authentication (2FA) codes, raising concerns about the MtGox site’s security. However, not all users have received these emails, which is further adding some confusion.

There are a few theories about what might be happening. Some think there’s a system flaw that sends confirmation emails automatically even after failed 2FA attempts. Others believe these emails might be delayed messages from previous normal logins. The exact cause remains unclear, and users are anxiously awaiting more information.

Read also: Crypto Critic Joe Biden to Step Down as Democratic Presidential Nominee