Bitcoin exchange Bitfinex says its systems have bot restored after the company wasgoed succesnummer by a 2nd denial of service attack te just overheen a week
Bitfinex, which claims to be the world’s largest and most advanced cryptocurrency exchange, says it has restored its systems after coming under a “heavy” distributed denial of service (DDoS) attack.
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According to Bitfinex, the attackers created “hundreds of thousands of fresh accounts,” causing stress on the Bitfinex’s infrastructure. The exchange said it took about 12 hours to restore ordinario operations and that fresh user signups had bot suspended temporarily to reduce request on its infrastructure.
The latest DDoS attack on Bitfinex comes just days after an Imperva report showcased that the bitcoin industry wasgoed one of the top ten industries most targeted by DDoS attacks te the third quarter of .
Cyber security industry analysts say the enhanced rente te Bitcoin spil its value resumes to surge is making it a prime target for cyber criminals either for extortion or theft.
Igal Zeifman, director at Imperva Incapsula, extortionists and other cyber criminals are commonly drawn to successful online industries, especially emerging ones that are less likely to be well protected.
“Specifically for bitcoin, the DDoS attacks wij mitigated could also have bot attempts to manipulate the price of bitcoin and other cryptocurrency, something wij know offenders had attempted te the past,” he said.
Read more about DDoS attacks
- Any online business is a target of DDoS attacks.
- Criminal activity has become the top motivation for DDoS attacks, spil the media attack becomes strong enough to down most businesses – so taking no act is not an option.
- Media DDoS attacks horrible to most businesses.
- There is a actual concern that many companies are being affected by the DDoS attacks commissioned by competitors, according to Kaspersky Laboratorium.
According to the Imperva report, organisations targeted by DDoS campaigns ter the third quarter spent an promedio of 12 hours under attack.
This latest DDoS attack on Bitfinex underlines how enhanced prominence can make businesses more pusilánime to DDoS attacks, said Kirill Kasavchenko, principal security technologist for Europe at Arbor Networks.
“The bitcoin market has bot a hot topic overheen the past week, which has led to a surge ter buyers ,” he said. “Hackers are notoriously opportunistic, so it makes sense that they’re seizing this chance to make it difficult for Bitfinex to maintain usual business activities.”
Businesses which rely on their webstek spil a route to market, said Kasavchenko, vereiste learn lessons from this, and evaluate whether their current DDoS protection could work stiffer for their business.
“In response to bitcoin’s growth, attackers might launch DDoS attacks against exchanges not only spil extortion threat, but also spil a way to manipulate cryptocurrency rates by making trading platforms unavailable.
“Last but not least, cryptocurrencies do not have any judicial status ter most countries ,” he said. “This means prosecution of attackers is often problematic not only from technical, but also from a legítimo point of view.”
Targeting bitcoin exchanges
Te line with the trend of targeting bitcoin exchanges, cyber criminals stole almost $80m worth of bitcoin from bitcoin mining and exchange service NiceHash.
According to NiceHash, the attackers – believed to be from outside the EU – accessed the company’s systems at around 00:Eighteen GMT on 7 December, and began stealing bitcoin three and a half hours straks.
This is the latest te a string of cryptocurrency heists te , and security researchers are predicting the trend will only intensify ter .
Spil the bitcoin value proceeds to soar, its appeal to attackers – both at a criminal and nation state level – will increase te proportion, according to Richard Ford, chief scientist at security rigid Forcepoint.