Bitcoin Casinos Stand Firm Despite Cyberattacks
The Bitcoin gambling industry maintains to gain encouraging user activity in spite of the constant attacks that are dealt by online terrorists. One main factor behind this positive run is the niche’s effort to constantly upgrade and improve its current security protocols to protect both users and operators.
Bitcoin casino platforms and other crypto-powered gambling websites are not foreign to cyberattacks. These platforms have already experienced a series of attacks that vary from the simpler user account compromise to the complex and more extreme full-system breach.
Although the majority of these cyberattacks left little to no detrimental damage to both the users and the casino’s operators, the Bitcoin casino market is still facing constant DDoS extortion attacks brought upon the notorious cyber-criminal group DD4BC.
DD4BC’s tale of horror
Cyberattacks on Bitcoin orchestrated by this infamous online terrorist group started in September 2014. From then on, the DD4BC group has already conveyed over 114 cyberattacks as of April 2015, according to online reports.
However, unlike the typical extortion attack where perpetrators pressure Bitcoin users, the majority of these attacks are geared toward large and established Bitcoin websites that cover both the general market and the gambling niche.
DD4BC hacks through the victim’s system database, allowing them to deny any permission or halt any on-going transactions or services done by the website’s users. This system breach is vital to the business’s overall performance since their income comes from its users.
In order to override the system denial that is currently active, the victim must pay a certain amount of BTC to the extortionists. This type of ransom not only damages the victim’s overall system, but also its reputation among its users, who enjoy playing their Bitcoin games.
For instance, Bitcoin prediction market BetMoose and popular Bitcoin sportsbook Nitrogen Sports have experience an excruciating ordeal with the online extortion group last year. Both have suffered detrimental losses that led their platforms to halt their services for a while, which then resulted in a significant decline in customers and profits.
However, despite this unfortunate scenario, the Bitcoin casino market still has an encouraging amount of adherents and constant customer traffic. To top it all off, online support groups are expanding their services to protect the whole Bitcoin ecosystem for possible extortion attacks. Unfortunately, new threats arise, and this includes social media Bitcoin attacks.
Online groups expand protection to Bitcoin—a significant hint to mainstream acceptance?
The Bitcoin ecosystem is currently building its repertoire of safeguards that are coming from different sectors, some from departments that are entirely unrelated to Bitcoin.
One example of which is the online group Akaima, which is known for aiding various enterprises through providing users with a secure and high-performing network. This security group has recently released an in-depth analysis on the DD4BC Bitcoin extortion cases, together with real occurrences on every attack.
By releasing this statistic sheet, Bitcoin companies and users are now able to grasp a vivid imagery of what an extortion attack would look like. In addition, this release is able to provide more understanding on how to counter these instances.
On the other hand, a blockchain startup known as the Digital Asset Holdings LLC has issued its first crypto-based security system for the prediction marker Pivit.
Through further optimizing the potential of the blockchain’s technology, this brand-new security system can revolutionize the security protocol in the online gambling niche. This hints that the Bitcoin gambling industry is yet to have another option for security amplification.
Given that online groups are consistently establishing strongholds for Bitcoin’s network, it is safe to say that mainstream adoption is nigh. If these new system options can go against Bitcoin extortion attacks on a high note, layman consumers will no longer have to feel threatened by Bitcoin’s endless potential to bring the mainstream market and society to greater heights.