DDoS attacks on exchanges are intensified as a result of the general increase in the value of cryptocurrencies

The number of DDoS attacks suffered by the cryptocurrency exchange increased by 36% in the third quarter of 2017 in relation to the same quarter of 2018. This reflects the growing popularity of cryptocurrencies in general, according to the latest Kaspersky Lab report on this type of attacks. According to Kaspersky Lab, compared to the second quarter of 2016, the number of DDoS attacks in cryptocurrency exchanges increased by 15%

Technically, massive DDoS attacks are used to distract security programs from exchanges to implement other types of attacks, adds the company that runs Eugene Kaspersky.

In the third quarter, the geographic coverage of DDoS attacks increased from 86 to 98 countries compared to the second quarter. More than half of the attacks were made from Chinese territory.

There were also changes in the top 10 countries in terms of a number of targets: Russia moved up from seventh to fourth place, while France and Germany replaced Australia and Italy. Meanwhile, the top 10 most popular host countries for botnet command servers in this quarter include Italy and the United Kingdom, displacing Canada and Germany. In any case, China, South Korea, and the United States continued to lead the leaderboards in the number of attacks suffered.

The attacks were mainly aimed at exchange located in China. These suffered 63% of the total number of DDoS attacks. The South Korean Exchange represented 9% of the total number. The duration of the DDoS attacks received by exchange has also been extended since the longest DDoS attack lasted for 215 hours.

Not only have exchanges increased their weight as victims of DDoS attacks during the reporting period. They have also increased their weight many online gaming services and lottery services such as the National Lottery of the United Kingdom were also affected. Kaspersky Lab experts noted an increase in the number of DDoS attacks targeting platforms that make initial coin offers (ICO): These DDoS attacks aim to discredit these initiatives or, worse, serve as a distraction maneuver during the theft ordinary tokens or cryptocurrencies.

It seems evident that security is a clear factor to take into account when choosing an exchange. Unfortunately, it is a factor with which we do not have objective data on the part of the provider and we can only be guided by previous (bad) experiences or else keep the least amount of money in the exchange and the rest in the wallets.

Enric Martí

Enric Martí

Economy fan, hangued, hooked on crytocurrencies and junkie of audiovisual stuff...on rehab