Were Competitors Behind OKEx’s Malicious Attack?

  • Were Competitors Behind OKEx’s Malicious Attack?

    Both Bitfinex and OKEx crypto platforms were both subject to maliciously Distributed Denial-of-Service attacks (DDoS) at the end of February. The DDoS was aimed at disrupting the efficiency of the platforms in their operations by overwhelming several servers with a lot of fake traffic.

    Luckily, both of the cryptocurrency platforms were able to fight the attacks and have since been able to go back to normal performance on the platforms. The CEO of OKEx is now claiming that competitors of the exchange were behind the attack despite no evidence pointing towards this.

    Maybe this was because OKEx was the first platform to face the attack in question. The CEO, Jay Hao cited the occurrence on Twitter saying that the platform is well equipped to handle such incidents and that all users on the platform will be extremely well protected from malicious actors.

    “We’ve detected a planned DDOS attack to our site, 200G yesterday & 400G just now. A message to OKEx users & communities: Be assured, OKEx is well-prepared to deal with these attacks, we have and will always protect our users no matter what.”

    It didn’t take long for the competing crypto platform Bitfinex to announce that they also faced a similar attack. The CTO of that platform, Paolo Ardoino explained that despite the cleverness of the attack, the team at the platform were able to completely destroy the malicious work whilst also keeping the users safety intact.

    After the attack occurred, the CEO of OKEx launched a bounty to find those who ordered it.

    He further went on to say:
    “Plus a message to any team who got paid to do this (also to Bitfinex), if you’re willing to cooperate with OKEx team and expose the malicious buyer of the DDOS attack with evidence, I’ll personally double pay you.”

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