The impact of DDoS and other security shocks on Bitcoin currency exchanges: evidence from Mt. Gox
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It is found that following DDoS attacks on Mt. Gox, the number of large trades on the exchange fell sharply, and the distribution of the daily trading volume becomes less skewed (fewer big trades) and had smaller kurtosis on days followingDDoS attacks.Abstract:
We investigate how distributed denial-of-service (DDoS) attacks and other disruptions affect the Bitcoin ecosystem. In particular, we investigate the impact of shocks on trading activity at the leading Mt. Gox exchange between April 2011 and November 2013. We find that following DDoS attacks on Mt. Gox, the number of large trades on the exchange fell sharply. In particular, the distribution of the daily trading volume becomes less skewed (fewer big trades) and had smaller kurtosis on days following DDoS attacks. The results are robust to alternative specifications, as well as to restricting the data to activity prior to March 2013, i.e., the period before the first large appreciation in the price of and attention paid to Bitcoin.read more
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Quantitative Analysis of the Full Bitcoin Transaction Graph
Dorit Ron,Adi Shamir +1 more
TL;DR: In this article, a variety of interesting questions about the typical behavior of Bitcoin users, including how they acquire and how they spend their bitcoins, the balance of bitcoins they keep in their accounts, how they move bitcoins between their various accounts in order to better protect their privacy.
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What's in a name? Evaluating statistical attacks on personal knowledge questions
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Beware the Middleman: Empirical Analysis of Bitcoin-Exchange Risk
Tyler Moore,Nicolas Christin +1 more
TL;DR: Using a proportional hazards model, it is found that an exchange’s transaction volume indicates whether or not it is likely to close, and that less popular exchanges are more likely to be shut than popular ones.