Thanks for the suggestions..
Yes iptables are not working and for installing fail2ban/any other protection iptables are required, I did manage to get them up and running using the modules from this thread:
http://archlinuxarm.org/forum/viewtopic.php?f=29&t=1234, didn't read the whole thread and installed, as detailed in the thread after reboot pogo would hang up..
So just did a reformat and install again, guess I will just have to go with a stronger password, squash root ssh access, change the SSH port and hope for the best!!
Any other tips/ ways to bring up iptables are appreciated..