Bitfinex Exchange Suffered DDoS Attack, Went Down For An Hour

Vasu Singhal
Vasu Singhal is a management student and a stock market trader. He believes that investment avenues and opportunities are very diversified. Therefore, he has an interest in blockchain technology too. He likes to evaluate best investments available in the financial market with showcasing the required skills.
  • Bitfinex has been going through a rough patch of late, having been turned down temporarily on Friday due to a distributed denial-of-service (DDoS) attack.
  • OkeX also suffered a similar distributed denial-of-service (DDoS) attackS attack recently.

The popular cryptocurrency exchange Bitfinex has been going through a rough patch of late, having been turned down temporarily on Friday due to a distributed denial-of-service (DDoS) attack that was reminiscent of a similar incident that happened with OKex recently.

The bitfinex team announced this on their website and a twitter page, the team is investigating the DDoS attack and their exchange is currently under maintenance. The bitfinex suspects the attack when the price of bitcoin was long struggling between the ranges of $8700.

Bitfinex Exchange Went Down

After first tweeting that they are investigating the attack which seems to be a distributed denial-of-service (DDoS) attack and they linked the link to the page where they will be updating the status of the website – https://bitfinex.statuspage.io, the hong kong-based exchange confirmed the DDoS attack.

Soon after Bitfinex released another tweet within an hour stating exchange is back to normal operations. The exchange later in their tweet also mentioned that they have implemented a stricter security level to avoid falling prey to such sort of Distributed Denial-of-Service DDoS attacks in the future.

Paolo Ardoino, CTO of bitfinex tweeted about the DDoS attack, he mentioned that they encountered a soph sophisticated DDoS attack and the bitfinex team quickly resolved the issue and users funds remain safe during and after the attack, the exchange is now live and fully operational.

He posted another tweet quoting a tweet by Larry cermak, research director of The Block, in which larry compared the DDoS attack of Bitfinex with the attack OKeX suffered recently.

Paolo mentioned that he don’t knew about OkeX attacked by DDos as of recent but he will closely monitor the similarities and he also mentioned that Bitfinex is now more secured and will not suffer any such attack in future.

What Actually DDos is?

In networking, a Denial of service attack is something when the end device or machine goes into a passive state because of its cam table or routing table gets filled by perpetrator flooding traffic of unnecessary request to the machines like router and switches. The table in the machines is used to identify the devices and get connected to using IP addresses and mac addresses with the help of different routing protocols.

When the end device cannot able to accept any more requests from its end it goes into a dormant state where it denies providing any services or simply shutdowns which are known as a denial of service attack.

A distributed denial of services attack is when the perpetrator is sending the unnecessary flooding of requests from not one source but multiple sources. The distributed Dos is impossible to stop by blocking a single source.

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