Binance has been the target of a DDoS attack on its Chinese domains. The CEO of Binance has confirmed the news after rumors of the attack began circulating for several hours prior.
April 29, 2020 | AtoZ Markets – Binance, world’s biggest cryptocurrency exchange is reportedly under attack. The CEO of Binance said the network’s Chinese domains have been subject to a DDoS attack.
Binance exchange hit with a DDoS attack
According to the Coinness report, the Co-founder of Binance and CMO, Yi He, notified about the attacks in a WeChat group. A recent mailer from Binance sent in Chinese text, which has users suspecting a phishing attempt. However, the customer help desk of Binance informed it is a satisfaction survey questionnaire for the professional version trading interface.
According to the report, some users also reported that a large scale of lag appears on the contract page. Currently, the eastern trading session is in full swing, and the western traders don’t know about the alleged attack on the crypto exchange.
CZ confirms that Binance’s Chinese Domains suffered a DDoS attack
Binance chief, Changpeng Zhao CZ reportedly confirmed the report on April 29 after rumors of an attack on the exchange surfaced several hours earlier. According to CZ, these attacks could be instigated by Binance’s competitors.
Earlier today, our Chinese domains experienced targeted DDoS attacks, and users saw some lag and interruption of network access.— CZ Binance 🔶🔶🔶 (@cz_binance) April 29, 2020
Based on the attack pattern, it looks like work of our self-perceived competitors.
No need to be concerned. Systems are fine. Funds are #SAFU.
Bitfinex also suffered DDoS Attacks
Recall that in February 2020, Bitfinex exchange was also hit with several DDoS attacks just hours after the OKEx exchange was attacked.
Following both instances, BitMEX also confirmed that there was an attack on its infrastructure as well. While both OKEx and Binance have claimed that there has been at least one competitor involved in carrying out the attacks on their platforms, it is possible that the same attackers could be behind all attacks. Also, it could be a single attacker that has triggered these ill-doings on all crypto exchanges attacks that have happened since the year 2020 began.
Should crypto exchanges be doing more to protect their users? Are they improving? Have you had any experience with the exchanges you’d like to let AtoZ Markets know about? Let us know in the comments below.