Bitcoin exchanges under attack: What are the dangers of a DDoS attack?

Security gaps have been discovered on various Bitcoin exchanges in the past few weeks. This points to an unwanted problem in crypto space.

It is leaking in the Bitcoin ecosystem. In the past few weeks, security problems have been discovered on the crypto exchanges OKEx, BitFinex, Digitex and Coinhako. In the meantime, the problems have apparently been resolved again. However, such incidents show that there is still much to be done.


Bitcoin exchanges face security gaps

This recently made it possible for attackers to overwhelm the OKEx and BitFinex exchanges with distributed denial of service attacks (DDoS attacks). In such attacks, systems are overloaded with requests to put them out of action. Bitcoin exchange OKEx suffered such an attack on February 27, which lasted two days. The attackers showered the servers in up to 400 gigabytes of traffic per second in two waves.

While the attacks on OKEx continued on February 28, the scandal exchange BitFinex also received corresponding attacks. As the industry magazine Coindesk reports, the attack here only lasted an hour. The short period of time was still enough to put the stock market traffic on hold in the meantime. For an hour she blocked all trading activities.