Biggest Bitcoin Exchange OKCoin Suffers Cyber Attack; Price Plummets
The world’s largest bitcoin exchange OKCoin has suspended some of its services indefinitely, following a malicious cyber attack from unknown hackers. Due to an increasing number of complaints on bitcoin forums and panels including Bitcointalk.org and Bitcoin Reddit, OKCoin, which processes almost 40% of all bitcoin trades, announced to its users: “OKCoin is currently suffering from malicious cyber attacks and as a result, some services may be suspended, Sorry for the inconvenience.” Approximately at 3 AM users begin experiencing problems with the server and fail to access their accounts.....
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Last week, bitcoin exchange OKCoin suffered a DDOS (distributed denial of service) attack, preventing users from accessing the platform for a while. On the afternoon of the attack, the company's significant resources capable of defending against such attacks were able to limit the impact on the Chinese platform's K-line. However, another stronger attack was made later on in the same day, leading the tech team to immediately set in motion the emergency response plan of switching to a highly secure server and enacting counter CC attack measures. This took some time to take effect so some....
OKCoin's defense system was put the test on July 10 when a distributed denial of service (DDOS) attack prevented some users from accessing its platform from 17:00 to 17:19. Xin Chen, chief financial architect at OKCoin, told CCN the attackers wanted to influence the bitcoin price, which they succeeded in doing for the short term. "There is an impact on the short-term price of bitcoin from the attacks," Xin Chen said. "The attacks were simultaneously carried on OKCoin, Huobi, Bitfinex and perhaps others. It costs resources to carry out a DDOS attack and it is likely in our estimation that....
The OUSD stablecoin issuer, Origin Protocol is the latest Defi protocol to fall victim to a flash loan attack. The attack, which occurred in the early hours of Tuesday, on November 17, resulted in the disappearance of tokens worth millions of dollars. Confirming the attack, one of the project’s leaders say they are now working with exchanges in order to identify the attacker, as well as to freeze the tokens before they are liquidated. Funds Located The Origin Protocol attack follows a similar incident at Value Defi on November 14 where the criminals stole $6 million worth of tokens.....
Today marks a special day: The first day that newcomer international Bitcoin exchange OKCoin.com has had a higher daily Bitcoin volume than all other exchanges. In the last 24 hours, OKCoin.com has transacted nearly 16,000 BTC, compared with Bitstamp's ~14,700 BTC and Bitfinex's ~15,100 BTC. OKCoin.com is the international arm of OKCoin. OKCoin also runs OKCoin.cn, a Chinese Bitcoin exchange that also has high volume CNY/BTC trading but does not charge fees (the Chinese norm). Whether or not OKCoin's lead in 24-hour Bitcoin volume will persist until tomorrow is anybody's guess. However, it....
The Bank of Venezuela, one of the biggest state banks in the country, is now experiencing an outage that has left its customers without services for five days. The bank published a PR statement stating this was the result of a “terrorist attack” on the national financial system, being perpetrated in the form of a massive hack. More than 16 million customers are still without banking services at the time of writing.
Bank of Venezuela Hacked In “Terrorist Attack”
The Bank of Venezuela, one of the biggest financial institutions in the country, servicing....