BitFinex Parries DDoS Attack, Users Venting In Social Media

BitFinex Hacked

Hackers initiated a DDoS attack on the Bitfinex website. The US cryptocurrency exchange recovered after a couple of hours of service interruption.

The attack starting at around 13:00 UTC persisted for two hours, according to the exchange’s dedicated incident log. At 16:40 UTC, officials disclosed the intrusion came to an end and the exchange was “back to normal operations.”

From the fact that Bitfinex had an earlier downtime, it was discovered that the hackers timed the DDoS attack to hit as the dev team was getting the system back online following some “infrastructure” issues.

A previous update said:

“The cause of the outage has been identified. A DDoS attack was launched soon after we restarted operations. The previous outage was caused by issues with one of our infrastructure providers. While the platform was recovering, the attack caused extreme load on the servers.”

This is not the first time that hackers tried to steal from Bitfinex. In 2016, the exchange “lost some $68M worth of funds” after hackers have broken through security.

The exchange has also been marred by other controversies. This year, its users criticized the company’s policy of having them provide personal data for purposes of taxation.

In a Polish investigation, the exchange fiercely denied any linkage to an alleged fraud which tagged an account on the exchange to the tune of €400M ($468M).

Wednesday’s woes, though appearing minimal, solicited negative reactions from users venting their worries in social media regarding aborted trade requests.

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