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Elon Musk blames X outage on ‘massive cyberattack’ as bitcoin dips to $78K Elon Musk says that a major outage that disrupted his social media platform X for hours on Monday was the result of a “massive cyberattack.” The outage coincided with a significant dip for bitcoin that saw the world’s leading crypto fall to under $80,000. According to Downdetector, almost 40,000 people reported that X was down at around 2pm UTC. These reports then fell before spiking to over 17,000 an hour later. Addressing the hack, Musk said, “We get attacked every day, but this was done with a lot of resources. Either a large, coordinated group and/or a country is involved.” Hacking group Dark Storm has reportedly claimed responsibility for the attack. The group has previously warned it would target countries that support Israel . The various outages on X according to Downdetector. Read more: UK Treasury says ‘no plans’ to introduce US-style bi...

Ethereum layer 2 solution Arbitrum had a brief downtime on Friday. An update showed a surge in inscriptions had contributed to the spike in network traffic and gas fees. Arbitrum has since “resolved this issue,” with operations back to normal and gas prices steadily recovering. Arbitrum, a rollup chain on Ethereum, is running normally after a brief downtime on Friday. The layer 2 Ethereum scaling solution faced a little more than one hour network outage on December 15. An update posted on the official Arbitrum Foundation account on X noted that the outage happened after a surge in inscriptions triggered a stall in the Arbitrum One Sequencer. Arbitrum operations back to normal According to details shared with the community, the Arbitrum One Sequencer and Feed stalled approximately at 10:29 AM ET. The technical hitch led to a significant surge in network traffic and inevitably a spike in transaction fees. The Arbitrum One Sequencer stalled a...