Cryptocurrency News Today – Headlines for April 29

Binance Set-Up Business in 'blockchain-friendly' Bermuda Island
  • Binance exchange records DDoS attacks
  • Binance’s chief claims that competitors may have spearheaded the attack
  • The exchange is the fourth victim of a DDoS attack

Cryptocurrency News Today – according to reports, Binance has now become the latest target of a DDoS attack. The CEO of the world’s biggest digital currency exchange said the network’s Chinese domains have been subject to DDoS attacks.

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. Let’s see more about this latest development with the world’s largest digital currency exchange.

CZ Broke the News of the DDoS Attack on Binance’s Chinese Domains

According to Binance’s CEO CZ, the exchange has experienced DDoS attacks on its Chinese domains. CZ said:

Earlier today, Binance’s Chinese domains experienced several targeted DDoS attacks. Our users saw some form of interruption on their network access.

Based on the pattern of these attacks, it looks like the work of our self-perceived competitors.”

After claiming that the series of attacks were triggered by Binance’s competitors, CZ called on the community not to be concerned about the issue. He claims that all systems are fine at press time and “user funds are safe.”

According to an earlier report, Binance’s co-founder Yi said that he had alerted a WeChat group on April 29 that the exchange is under attack. This, however, backs the claims of CZ that Binance was indeed the latest victim of a DDoS attack. It is understood that Binance is the fourth victim of a Distributed Denial of Service (DDoS) attack this year. And according to CZ’s comments on the matter, the message is almost the same as OKEx’s statement earlier in the year. At the time the platform also faced a DDoS attack.

Bitfinex Has Been Hit With DDoS Attacks As Well

OKEx, just like Binance, claimed that (according to the pattern of the attacks) it could be targeted at the exchange by some “self-perceived competitors.” Recall that in February of this year, Bitfinex exchange was also met 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.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.


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