InsideBitcoins.com

Number of DDoS Attacks on Crypto Sites Increasing at an Alarming Pace

Number of DDoS Attacks on Crypto Sites Increasing at an Alarming Pace

Several prominent cryptocurrency websites have suffered DDoS (Distributed Denial of Service) attacks in recent days, including exchange operator Poloniex and hardware wallet provider Trezor.

Trezor suffers an attack

SatoshiLabs, the creator of Trezor hardware wallet, announced that it suffered a DDoS attack today. It informed the crypto community of the attack, saying,

“Trezor Shop is currently being targeted by a DDoS attack, meaning it is being overloaded by requests from hijacked computers, so the site may be a bit slow to access.”

Number of DDoS Attacks on Crypto Sites Increasing at an Alarming Pace

It noted that there are some delays on the website but there has been no compromise on the store yet.

It clarified that the e-shop’s security is not affected in any way. It added that the firm has faced several such attacks in the past and has continued to function regardless. It also apologized for the inconvenience that it could have caused the users.

What is DDoS?

A distributed denial of service (DDoS) occurs when a malicious actor floods a platform with unexpected traffic from external computers. As a result, the platform cannot operate like usual which allows hackers to break into their system. Though it is one of the simpler methods of attacking platforms, it continues to be one of the most reliable.

Crypto exchange Poloniex also suffered a similar attack recently. Poloniex informed of the attack on December 5, suggesting that its funds have remained safe. Crypto news outlet The Block also faced a DDoS problem. The platform said that it mitigated an attack that sent 2,666 requests per second.

Earlier this year, Binance CEO Changpeng Zhao called out the firm’s competitors and blamed them for DDoS attacks on the exchange. In February, OKEx and Bitfinex also faced huge DDoS attacks that led to the exchanges going down for some time. Bitfinex was back online within an hour but OKEx was down for several hours after the attack.

Remember, all trading carries risk. Past performance is no guarantee of future results.
Avatar

Sherlock Gomes loves to write and express his views on anything related to Crypto. He has been covering Crypto for more than two years now. He likes Bitcoin and Cardano. He also writes on Finance, Healthcare, and Technology among other stuff. He can be reached by e-mail on sherlockg@insidebitcoins.com