Code Spaces, the web-based SVN and Git hosting provider, has ceased trading after revealing a devastating DDoS attack which wiped its cloudy data would cost too much to both resolve and keep the company going.

The unauthorised user gained access to the company’s EC2 control panel, created a series of backup logins and randomly deleted items to the extent where most of Code Spaces’ data had disappeared, with no backups in place. The attacker had also demanded a large sum of money to stop the DDoS, similar to Feedly’s attack earlier this month.

“Code Spaces will not be able to operate beyond this point,” the company said in a statement. “The cost of resolving this issue to date and the expected cost of refunding customers who have been left without the service they paid for will put Code Spaces in a [sic] irreversible position both financially and in …