Bad Week For Bitcoin
Bitcoin, the once high-flying virtual currency, seemed to be getting it from all sides this week as its value fell to a nearly two-month low.
Several Bitcoin exchanges, including BitStamp, which handles the biggest volumes of Bitcoin trades, were hit with DDoS attacks this week that forced them to suspend processing Bitcoin withdrawals. Mt. Gox, a Tokyo-based Bitcoin exchange, halted trading after suffering a number of technical problems. And Silk Road, an online black market, was hit by a hacker who stole Bitcoins worth millions.
All this comes as Bitcoin skepticism and scrutiny are on the rise. Several countries, including Russia and Canada, have taken steps to toughen rules on virtual currency trading, citing fears it could be used for money laundering or terrorist financing.