- The Bitcoin core developers have reached out to multiple stakeholders to temporarily disable the function of Bitcoin.org.
- Fortunately for BTC investors, the recent hack hasn’t much impacted the price of the digital asset.
The original Bitcoin Foundation website by Satoshi Nakamoto has been compromised in the recent attack by hackers. This has happened for the first time in history since the inception of Bitcoin in 2009.
Now, the hackers have been running the giant Bitcoin giveaway “double-your-money” scam on the Bitcoin.org website. Initial reports are that the hackers have managed to steal a good amount of money from the victims. Reportedly, the fraudsters have so far collected $18,000.
— Wu Blockchain (@WuBlockchain) September 23, 2021
Several users started reporting it in the early hours of Thursday, September 22. In the past, such scams have been rampant on Twitter initiated by several fraudsters and imposters of popular personalities like Elon Musk and Vitalik Buterin. One of the Bitcoin core developers who goes by the name Cobra Bitcoin reported:
Bitcoin.org has been compromised. Currently looking into how the hackers put up the scam modal on the site. May be down for a few days.
Cobra Bitcoin further puts the blame on Cloudflare. He noted that this incident happened just in two months of moving to the server. Tagging the company and its CEO, the validator further writes:
Bitcoin.org hasn’t been hacked, ever. And then we move to Cloudflare, and two months later we get hacked. Can you explain where you were routing my traffic too? Because my actual server didn’t get any traffic during hack.
Whitepaper Removed from Bitcoin.org
It also seems that the hackers have gone further and beyond just compromising the homepage. It looks like all the sub-pages on Bitcoin.org aren’t functional as of now. Besides, it doesn’t allow users to access pages showing the PDF version of the Bitcoin whitepaper.
Furthermore, the direct URL of the Bitcoin whitepaper isn’t working as well showing the “404 Not found” error. Another Bitcoin core developer Matt Corallo reached out to the domain hosting website Namecheap to temporarily disable the bitcoin.org domain.
Namecheap has reciprocated replying: “Hello, Thank you for reporting this matter. We have temporarily disabled the domain”.
Interestingly, it turns out that the event hasn’t affected the Bitcoin price as of now. Rather, Bitcoin has registered 4 percent gains moving past $43,750 levels.
Interesting;y, BlockStream co-founder Greg Maxwell has lashed out at the self-acclaimed Satoshi Nakamoto Craig Wright and asked him to take responsibility for the hack.
— cryptorebel_SV u/1479 (@cryptorebel_SV) September 23, 2021
Bitcoin price bounce back
Bitcoin has been trading under pressure over the last week. On Tuesday, September 21, Bitcoin took a brief dive under $40,000 before bouncing back. Amid the recent price smaller Bitcoin HODLers have been found stacking BTC again. As per Glassnode data, these investors have accelerated accumulation since mid-May.
They now hold a collective 13.9% of supply. pic.twitter.com/Ap7X5FdE92
— glassnode (@glassnode) September 22, 2021
On the other hand, the Bitcoin Lightning Network capacity has been on a steep rise since the beginning of 2021. Also, it is currently at an all-time high capacity of 2738 BTC. This amounts to a staggering $116.3 million.
While Bitcoin trades under pressure, analysts are bullish for Q4 2021. Several analysts are giving a BTC price target of $100K and above by the end of this year.