Key Takeaways
- Mt. Gox creditors are reportedly under attack.
- Hackers are trying to gain unauthorized access.
- Mt. Gox’s main portal remained down at the time of writing.
Mt. Gox creditors are facing increased security threats as they anticipate nearly $9 billion in repayments. Their journey to receiving their funds has been riddled with challenges, from receiving double payments to enduring persistent delays.
On Thursday, July 18, several Reddit users reported experiencing failed login attempts on their accounts, raising concerns about the safety of their funds.
Mt. Gox Creditors Under Attack?
Some users even reported as many as 22 failed attempts on their accounts.
“Just received 15 notifications for account login. Now can’t get into my account. Is Mt. Gox under attack?” Reddit user Ovkovk posted on the r/mtgoxinsolvency forum.
The trending post received 62 comments, with many users reporting similar login notifications.
Some users claimed that the attacker could have gained access to the records of all Mt. Gox emails and attempted to brute force their way into the accounts. Another commentator suggested that two-factor authentication (2FA) should keep them safe.
While 2FA worked for some users on the Reddit thread, several others reported being locked out of their accounts for 24 hours despite setting up the security measure.
Amid the chaos, the Mt. Gox’s official portal remains “temporarily down for maintenance.”
Mt. Gox’s Rocky Journey
Mt. Gox’s repayment journey has been fraught with issues. In January 2024, Reddit users reported receiving double payments from the exchange, followed by emails requesting the return of the second payment.
In the email, Mt. Gox’s Rehabilitation Trustee explained, “Due to a system issue, the transfer of money to you was inadvertently made twice,” emphasizing that recipients were “not authorized to receive the second transfer” and were required to return the specified amount.
While some users complied and returned the extra payment, others resisted, with some even joking about making Mt. Gox wait a decade.
Scams and Hacks Surge in July
The crypto industry kicked off July on a sour note, experiencing major hacks amounting to nearly $258 million. On July 18, hackers siphoned almost $240 million from WazirX, the largest crypto exchange in India.
In the same week, on July 16, actors managed to steal nearly $10 million in stablecoins from the DeFi cross-chain aggregator LIFI. Earlier in the month, hackers exploited Bittensor, making away with nearly $8 million in TAO tokens.
The affected platforms have assured users that they would return the stolen funds and are reportedly actively working with authorities.
Mt. Gox’s $700M Bitcoin Transfer Marks First Major Activity in Weeks
