Bitfinex, one the worlds largest virtual currency exchanges, has bee having problems since yesterday. Upon visiting the platforms website, Cloudflare is intermittently greeting the user rather than Bitfinex.

This is a slight cause for concern, the Hong Kong based Bitfinex was the industry hack of 2016 that ended with millions lost and the exchange asking it's customers for help.

If you do manage to get past Cloudflare, trying to accomplish a successful login becomes an issue where it never shows up, rather it hangs and just sits there.

This is classic DDoS and what Bitfinex alerted its users of on Tuesday, as if they hadn't already noticed, not to mention for those who do manage through are then faced with the aforementioned login issue.

Localbitcoins In and Out

Peer-to-peer trading platform Localbitcoins (LBC) is also undergoing it' share of congestion and DDoS (denial of service) issues. LBC is no stranger to DDoS attacks being one of the most attacked sites in the industry. Service appears in and out with LBC with users experiencing only partial outages. The P2P platform has also seen a significant increase in traffic from China.

History of Hack

Whereas the blockchain has never been officially hacked, just about any company acting as a custodian (holder of bitcoins) has been bombarded with hack attempts. Some of which have succeeded such as the infamous Mt. Gox or more recently Cryptsy and Bitfinex themselves.

DDoS attacks are generally used to discover any vulnerabilities although sometime just to be annoying. Ironic if you think about it, in trying to hack and steal bitcoin these idiots damage the very thing they are trying to profit from making it .... less profitable.

Article by dinbits
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