Every monetary institution has at one time or another fallen victim to a successful hack or an attempted one. Even the most protected government financial bodies fall victim to hackers. Bitcoin casinos such as Betsafe Casino are not safe. Hackers with new technology and tools are attacking casinos every other day.
According to 2017 reports, more than 34% of online hacking attempts were directed to gambling sites. More worryingly is that close to 75% of all Bitcoin sites experienced Distributed Denial of Service (DDoS) attacks in quarter 3 of 2017. Reports indicate that gambling sites remain a favorite destination for hackers. Bitcoin-related sites have increasingly been attracting a large number of attacks though.
The DDOS hacking threat
According to a report released by cybersecurity company Imperva, DDoS hackers normally bombard sites with information and in return, they demand a ransom payment or steal information. The report which was titled Global DDoD Threat Landscape was for the Q3 of 2017. Figures in the report show that top gambling sites listed on slotsjudge.com and other credible sites remain hot targets for DDoS hackers.
In the last part of 2017, Bitcoin and other cryptocurrencies have enjoyed tremendous growth. This has in return attracted the unwanted attention of hackers. Hacking attacks on Bitcoin-related casinos have never been more intense than in the latter part of 2017.
In the Imperva report, it is indicated that around 74 percent of all Bitcoin sites have experienced some form of DDoS attack during the third quarter of the year. In comparison to the main casino categories, Bitcoin sites are very few. And yet they attracted 3.6 percent of all DDOS attacks.
The effects of hacking in gaming
Because Bitcoin is a virtual currency, it can only be used in online casinos. This means that a better’s Bitcoins are in a virtual wallet. DDoS attacks often come at the most inopportune time. In October, during the third split of Bitcoin, Bitcoin Gold was targeted by hackers. The disruption was made by 10+ minute requests. This rendered the site inaccessible by the general public and investors. This then means that a better is unable to access their Bitcoins when a Bitcoin exchange is under attack.
In the Global DDoD Threat Landscape report, it is noted that the attacks especially those using DDoS are increasingly becoming prolonged and determined. During Q3 of 2017, one-third of network layer targets were attacked more than 10 times. 16 percent of layer targets also suffered at least 6 attacks. More powerful botnets and malware in mobile phones that can gain control of 70,000+ Android phones across the globe have increased the hacking threat.
The solution to the hacking threats
The solution to Bitcoin casino hacking especially the DDOS based might be lying with the Blockchain technology. If the blockchain bandwidth is rented out, these attacks can be mitigated by the increased capacity to handle more traffic.
According to Lila Kolochenko, CEO of High-Tech Bridge, a single DDoS attack might not produce ruthless results for cryptocriminals. However, a well-orchestrated attack can create serious damage. For example, if a Bitcoin platform was to go offline and at the same time fake negative news get released, widespread panic would follow. This would then undermine the Bitcoin exchange rates and even its gambling capacity as a currency. Such kind of attacks would, however, require rigorous preparation and significant resources in order to succeed.