Cyber attack Affected Trading With Bitfinex


One of the most well-known cryptocurrency in the world has recently suffered from cyberattack which resulted to the shutdown of its trading for a short time. Many investors were not surprised with the news including Leonardo González Dellán because cyberattack is one of the most common risks when it comes to cryptocurrency trading.

According to reports, the attack on Bitfinexis known as DDoS attack (Distributed Denial-of-Service). The attack is intended to damage the servers with multiple viruses injected into it. The company website said that the previous problem was due to the infrastructure provider they are in contract with. It was during this time when the platform was still under recovery that caused an overwhelming load to the servers.

After the news came out to the public, CoinDesk reported that the prices of bitcoin went down by 2 per cent and it has bottomed down to $7,373.47. After a few hours from the attack, Bitfinex went back to trading online but the company is still closely monitoring any problem. Prior to publicly announcing the attack, the trading with digital currency Bitfinexhas been halted because of the unplanned maintenance they have to go through.

A spokesperson from Bitfinex said that the attack only affected the operations of the online trading but the accounts of the users as well as their account balances and linked funds are not compromised during the entire time the servers were under attack.

It was six years ago when Bitfinexwas established in Hong Kong and it was originally a bitcoin exchange focusing on peer-to-peer transactions. It was only later that it provided support to different digital currencies. It was not the first time that it was attacked. It was June of 2017 when hackers made an attempt to sabotage the system. Two years ago, it faced an even bigger crisis when almost 120,000 bitcoins were stolen by hackers on August of that year.

For a number of global digital currencies, investors like Leonardo González Dellán already know the risks that come with it. Even cryptocurrencies that are not so popular are also targets of cyberattack such as Coincheck and Youbit.