Creditors of defunct crypto exchange MtGox are worried about a series of unauthorized attempts to log into their accounts, raising fears of possible cyber attacks.
Over the past 24 hours, the MtGox lenders subreddit r/mtgoxinsolvency has been flooded with reports of strange activity involving multiple login attempts. Many of the exchange’s customers have posted screenshots of failed attempts to log into their accounts.
Some users suspected that hackers may have used a brute-force attack to crack account passwords, while others suggested that the site was experiencing technical issues or system failures. Despite the alleged hacking attempts, most lenders reported that hackers were unable to access their accounts due to two-factor authentication (2FA).
Following these incidents, MtGox’s website went into maintenance mode and advised users to check back later. This has caused great concern among MtGox creditors who have been waiting for compensation from the exchange for years.
The sharp increase in login attempts coincides with MtGox already beginning to distribute around $9 billion worth of BTC and BCH to its creditors. MtGox recently transferred 144,000 BTC to crypto exchange Kraken as part of its distribution plan.
In early July, MtGox clarified the timing of crypto asset payouts — the speed of receiving payments depends on which trading platforms creditors filed claims against. According to recent data from Arkham Intelligence, MtGox moved about 140,000 BTC to various crypto addresses.
