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Bitfinex Confirms DDoS Attack Hours After OKEx Was Hit

Bitfinex has resumed its services after coming under a Distributed Denial-of-Service (DDoS) attack in the early hours of Friday.

According to an update from the platform, the exchange was forced to investigate what appeared like a DDoS attack that affected its services. A follow-up incident report the digital trading platform released an hour later stated:

“Services on the Bitfinex platform have resumed. We implemented a stricter protection level as a result of our platform coming under a Distributed Denial-of-Service (DDoS) attack. All issues relating to the DDoS attack have now been resolved.”

Bitfinex CTO Paolo Ardoino has confirmed the attack, calling it “sophisticated”. However, he emphasizes that the issue had been resolved and that all user funds were safe. He tweeted:

“Today we were subject to a very sophisticated DDoS attack. The entire Bitfinex team worked really hard to completely annihilate it in a short period of time. All funds remained safe during the whole attack and high-trading-performance is now fully re-established.”

OKEx hit by a DDoS attack

The Bitfinex DDoS follows a similar attack on the OKEx crypto exchange that happened on the night of Thursday, February 28.

OKEx, a multi-cryptocurrency trading platform, said in a statement that user funds were not affected.

The exchange’s team reportedly spotted the DDoS attack and reacted swiftly, with the issue being resolved “within a short period of time.”

According to the crypto publication The Block, an OKEx spokesperson attributed the attack to malicious entities. He noted that the attacks were targeted at disrupting servers by flooding them with internet traffic. OKEx chief executive Jay Hao said the attack had been on a “large-scale,” and that it was the work of a competitor.

OKEx temporarily suspended its futures and options trading services after the attacks, attributing it to a system upgrade.

“The system upgrade is now complete & all trading functions are resumed.” the exchange tweeted.

The DDoS attacks on the two popular digital asset trading platforms happen at a time Bitcoin (BTC) is struggling to hold prices above $8,600. The top cryptocurrency has failed to break above $9,000 after sliding below the level mid-week. Elsewhere, the global stock markets are plummeting amid fears a coronavirus pandemic will trigger a global recession.

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