It has been a year of Hacks and Security Vulnerabilities, so what better way to end the year than another major attack?
Lizard Squad, a hacker group, is claiming that it is the reason for the outages currently plaguing both Xbox Live and the Playstation Network.
Over the course of the previous Week, Lizard Squad had been publicizing its plans to take down these Online Services.
It is not yet confirmed though whether it is really behind the attack, or are the Servers just overloaded due to the extra traffic from the Holidays. It has pulled off such attacks in the past, so there may be some truth behind its claim.