OKCoin has been attacked by hackers

MaVo 2015-11-06 10:30:08 UTC #1

Hey guys,

question: in this article

they say that people couldn’t access their accounts while Bitcoin price dropped by almost 10% but could access it again eventually, still having that bad taste in their mouth that they couldn’t take action during the swing.

While you are not subject to exchange default when using BCExchange, isn’t it still possible to constantly attack the web interface and keep people from trading, thereby causing a similar effect as OKCoin has suffered from?
Or will there be something like in-wallet trading at some point?

Thanks and cheers

masterOfDisaster 2015-11-06 10:50:34 UTC #2

There will be no central website that is necessary for BCE to work - there will be lots of websites to grant convenient access to the trading functions. If you favourite website is unavailable, you can use the standard client (wallet) as well; the websites do nothing else but provide a user interface that uses the wallet via RPC in the background.
Creating such websites could be assisted by BCE with “kits” that allow easy deployment.

And if hackers want to spam the blockchain with transactions, they need to pay for it. Let them come!

My take is that BCE is quite safe due to its decentralize nature - there are no single points that can be attacked!

Nagalim 2015-11-06 12:31:07 UTC #3

Ddos is always possible, but as MoD said, they will pay for it in Tx fees. Shareholders can further increase the Tx fee in response to a Ddos attack, though the reaction time would be slow. There are more potential methods, but I think you’ll find that when we are charging >10 cents/KB, it’s going to be expensive to pull off such an attack (>$100/minute).