Bitfinex Cryptocurrency Exchange Hit by << DDoS >> Attacks !

Bitfinex Cryptocurrency Exchange Hit by << DDoS >> Attacks !

Bitfinex, known as one of the world largest cryptocurrency exchange was forced to shut down its ongoing operations after suffering a series of non-stop distributed denial of service (DDoS) attacks on Tuesday 12 December

Based in Hong Kong, Bitfinex used its Twitter account to inform its customers about the situation and stated that “We are currently under heavy DDOS. API is also down. We are working on further mitigation.”

A DDoS attack is an attempt to make an online service unavailable by overwhelming it with traffic from multiple sources. In Bitfinex case, this is the second attack in just one week. On December 4th, the company suffered significant attacks on its server that carried on for days and stopped on December 7th.

Bitfinex cryptocurrency exchange hit by massive DDoS attacks?
Credit Bitfinex twitter account
While Bitcoin’s value is up to the sky, it is no surprise that a cryptocurrency exchange like Bitfinex came under cyber attacks. Also, CoinBase, another cryptocurrency exchange with more than 13 million customers was also under DDoS attacks earlier today yet it is unclear if both attacks are related.

Websites for Bitfinex and CoinBase were online. However, Bitfinex’s service status page is informing users that “Some services returning online with reduced performance. Continuing work to mitigate the attack.”

If you are running a business calculate the cost and probability of a DDoS attack on your business with this DDoS Downtime Cost Calculator.