Bitcoin news for the week of 10/17/16

Welcome to our weekly recap of the latest headlines in bitcoin and fintech. This week bitcoin received praise from the CFO of Netflix, UK fintech entrepreneurs spoke out on the negative impact of tougher immigration laws, and updates on much anticipated scaling solutions like SegWit also surfaced. Keep reading to find out about these headlines and more.

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Bitcoin news for the week of 10/10/16

Welcome to our weekly recap of the latest headlines in bitcoin and fintech news. This week TechCrunch premiered their docu-series about the impact of emerging technologies, there was considerable focus on mining operations, and of course, plenty of coverage about the recent rise in bitcoin price. Check it all out in our post below.  

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Security Update: Yesterday’s DNS Attack

Yesterday, Blockchain experienced an outage for several hours while under a DNS attack.

At approximately 5:42 AM EST, the attacker changed’s DNS servers. Within minutes, our internal systems alerted our infrastructure team who immediately began to assess the attack.

Control over our DNS servers is highly restricted and goes beyond industry standard protections against configuration changes. We were able to access our administrative accounts with our registrar and regain control. Unfortunately, it became clear the attackers gained access to our accounts through breaching the systems of our DNS registrar.

In an abundance of caution, we shut down our entire platform until we investigated the full extent of the attack. After making offline high-level contact with our registrar, we quickly determined that our registrar’s systems were breached by a highly sophisticated attack against the registrar’s infrastructure and not Blockchain’s infrastructure. Our registrar was able to manually regain control and revert the DNS changes.

While we waited for the fix to propagate across the internet, we investigated the malicious site to which the attacker had redirected traffic. We determined that due to the attacker using a self-signed SSL certificate, users using modern browsers – which the wallet requires – were prevented from being exposed to the phishing site. Due to the quick response of our team, the attacker’s DNS changes were allowed only to propagate partially across the Internet. We were also able to locate the owners of the compromised machine being used by the attackers and have it shut down.

After a full check of our own systems and a complete propagation of the correct DNS servers, we brought our platform back online at 1:20 PM EST. To mitigate the attack vector at our registrar, we have implemented additional manual, offline controls.

Ultimately, any disruption in service is something we take seriously and we extend our sincere apologies. While we sometimes remain offline for longer than necessary, we do so out of an abundance of caution while we check to ensure all systems are fully protected and functional.

Thank you for your patience.

Peter Smith

CEO & Co-Founder, Blockchain

Bitcoin news for the week of 10/03/16

Welcome to our weekly recap of the latest headlines in bitcoin and fintech news. Making a splash at The Mermaid in London, Richard Branson held his sixth Virgin Disruptors event and bitcoin took center stage. The rest of Europe also saw coverage this week, including one featuring an official bitcoin-only Red Bull vending machine. Learn about this and lots more in our post below.

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Bitcoin news for the week of 9/26/16

Welcome to our weekly recap of top bitcoin and fintech headlines. This week bitcoin is in the limelight for its potential as an online payment method, and also how it’s bringing people together. Security aspects of blockchain technology were under the microscope too, with key insight from security expert Pamela Morgan. For details about these headlines and more, read on.

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Bitcoin news for the week of 9/12/16

Welcome to our mid-September recap of top headlines and stories in the bitcoin and fintech world. This week’s edition includes some epic generosity, a World Economic Forum (WEF) interview with our very own Peter Smith, and according to the Washington Post, the ‘bizarre world of bitcoin mining’. Read on for that and more below.  

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