DDoS, or distributed denial-of-service attack, is a cyber-attack which disables a network for intended users by flooding the target with many different sources in order to overload the system. There are a lot of DDoS software tools available on the internet, many of which are quite user-friendly. Still, DDoS attacks are extremely dangerous and may cause the loss of millions of dollars, depending on the duration of the attack. Of course, there are a lot of ways to protect against a DDoS attack, such as firewalls, blackhole routing, upstream filtering and others. Bitcoin has some built-in protections against DDoS attacks, but is still vulnerable and may be slowed down by them. Cryptocurrency exchanges and various web-sites of concrete currency may be attacked, made unavailable for users and even be robbed for some amount of tokens while being under a DDoS attack.
The attack comes just one week after a U.K. court ordered the website to stop hosting the Bitcoin white paper.
Bitcoin.org owner reports site hit with ‘absolutely massive’ DDoS attack
The recent Twitter hack shows us that centralized infrastructure is still vulnerable, but DIDs, SSI and blockchains can change the paradigm.
Twitter Wouldn’t Be Hacked if It Were Backed by Blockchain Technology
Binance’s CEO suspects that recent DDoS attacks came from competing exchanges looking to damage Binance’s reputation rather than steal crypto.
CZ Insists That DDoS Attacks Were Foul Play From Binance Competitors
The world’s largest crypto exchange, Binance, faced a series DDoS attacks on its Chinese domains on April 29.
CZ Blames ‘Self-Perceived Competitors’ for New DDoS Attacks on Binance
Russians show more interest in cryptocurrency markets amid the coronavirus outbreak as crypto exchange-related traffic rises by over 5%.
Crypto Exchange Traffic in Russia Rises by Over 5% Amid Pandemic
An ex-employee of crypto exchange Digitex has leaked KYC documentation for and claims to have data for over 8,000 users.
‘Digileaker’ Claims to Have Stolen KYC Documents for 8,000 Digitex Users
Denial of service attacks are hitting both Bitfinex and OKEx, crippling the exchanges for short periods of time as Bitfinex CTO calls the attacks highly sophist...
Crypto Exchanges OKEx and Bitfinex Suffer Simultaneous DDoS Attacks