Bitfinex Exchange Offline After DDoS Attack

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empire868
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#47726

07 Jun 2018, 07:29

Bitfinex Exchange Offline After DDoS Attack

Cyber ​​attack and website downtime are very frequent occurrences for service related to cryptocourrency. One of the largest cryptocurrency exchanges, Bitfenks, had to face cyber attack on Tuesday morning on Tuesday morning. BitFinx used Twitter to provide updates for its users. The first tweet is read as follows:

This "unplanned maintenance" took only an hour and soon a quick update was made. The Cryptocurrency exchange was once again active and fully circulated.

In an email, marketing head Kaspar Rasmussen admitted that the exchange was targeted with DDOS attacks. For this reason, BitFinix was offline for one hour. However, due to its nature, DDOS attacks did not harm user accounts or their related funds. At the time of the attack, only innovative business operations were at risk. As the news broke, the cost of bitcoin fell nearly 2 percent.

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Bitfinex on its official statuspage described the background of the attack, the outage was due to “one of our infrastructure providers.” However, the incident report also claims, that during the recovery time “the attack caused extreme load on the servers.”

Also, Bitfinex announced they are “monitoring the situation closely” to encourage users not to fear about their funds. It is not the first time that Bitfinex suffers from an outage. Back in 2016, the exchange was hacked. The loss back then was a breathtaking 120,000 Bitcoin, approximately worth $68 Million at the time.

Bitfinex is not the only exchange struggling with DDoS attacls, the infamous cryptocurrency exchange Mt.Gox is also witnessed a DDoS attack shortly before the hack in 2013 and its closure following it shortly after. Another major cryptocurrency exchange, Coincheck has seen the biggest cryptocurrency related theft, when $500 Million worth of NEM were stolen from its wallets.

Further, South Korean cryptocurrency exchange Youbit lost a staggering 17 percent of its digital assets in a similar incident. Bitfinex took to Twitter and informed its customers about the condition on the exchange being back to normal. The tweet confirmed, “users can trade and fund on Bitfinex once again.”

Source: https://www.crypto-news.net/bitfinex-ex ... os-attack/



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#47743

07 Jun 2018, 12:02

Every attack is not only harm the environment of exchanger but also the mentality of traders.. hope they will recover soon

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