The Financial Markets Authority (FMA) of New Zealand has noted it has received complaints from New Zealand based clients of igot , an Australia-based bitcoin exchange, about igot’s failure to repay clients in accordance with their instructions. Igot is not registered or required to be registered to provide financial services in New Zealand.
The warning posted on the FMA’s “ Businesses to be wary of ” page. The FMA attempts to protect investors from businesses that are or have been registered on the Financial Service Providers Register (FSPR) and are the subject of complaints about misconduct that suggests customers may lose money.
If the FMA receives a complaint about a business or individual registered on the FSPR, it asks for an explanation. The FMA lists businesses to be wary of that have either not responded or have not provided a satisfactory response to a request for information about a complaint. Igot Claims DDoS Attack
Igot’s blog stated a distributed denial of service (DDoS) attack is causing delays on its platform. The blog noted the attack is designed to “choke” the system, with thousands of bitcoin transactions, as low as 0.000001 BTC, being sent daily to an igot wallet. The blog includes an image to convey the volume of incoming transactions.
The blog stated igot utilizes industry-standard DDoS protection, “but unfortunately in this case it is not effective.”
The igot team has minimized the attack’s severity, but more remains to be done. “We hope to return to a normal service very soon,” the blog noted. “Please keep an eye on our Facebook and Twitter feeds for updates as the situation changes.”
The entire bitcoin network recently suffered a similar spam attack, albeit on a larger scale, the blog noted. An overview can be seen in this blog post by BlockCypher. Similar Situation Occurred In […]
