The impact of DDoS and other security shocks on Bitcoin currency exchanges: evidence from Mt. Gox | Zendy

Amir Feder | Zendy; Neil Gandal | Zendy; JT Hamrick | Zendy; Tyler Moore | Zendy

AI Assistant Blog Pricing

Home ZAIA Blog

Open Access

The impact of DDoS and other security shocks on Bitcoin currency exchanges: evidence from Mt. Gox

Author(s) -

Amir Feder,

Neil Gandal,

JT Hamrick,

Tyler Moore

Publication year - 2017

Publication title -

journal of cybersecurity

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 0.438

H-Index - 16

ISSN - 2057-2093

DOI - 10.1093/cybsec/tyx012

Subject(s) - denial of service attack , cryptocurrency , currency , digital currency , business , monetary economics , computer security , economics , computer science , the internet , world wide web

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.

The content you want is available to Zendy users.

Already have an account? Click here to sign in.

Having issues? You can contact us here

Accelerating Research