How 3 hours of inaction from Amazon cost cryptocurrency holders $235,000

How 3 hours of inaction from Amazon cost cryptocurrency holders $235,000

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https://arstechnica.com/information-technology/2022/09/how-3-hours-of-inaction-from-amazon-cost-cryptocurrency-holders-235000/

Amazon recently lost control of IP addresses it uses to host cloud services and took more than three hours to regain control, a lapse that allowed hackers to steal $235,000 in cryptocurrency from users of one of the affected customers, an analysis shows.

The hackers seized control of roughly 212 IP addresses through BGP hijacking, a form of attack that exploits known weaknesses in a core Internet protocol. Short for border gateway protocol, BGP is a technical specification that large network operators, known as autonomous system networks, use to interoperate with other ASNs. Despite its crucial function in routing wholesale amounts of data across the globe in real time, BGP still largely relies on the Internet-equivalent of word of mouth for organizations to track which IP addresses rightfully belong to which ASNs.