Published
3 years ago on
May 10, 2020
- Earlier this week, the Binance exchange went through some network interruption and experienced some downtime on the platform.
- The CEO of the company, CZ later confirmed that Binance had actually been targeted by a number of denial of service attacks mainly on its Chinese domains.
- The CEO further argued that these attacks had been performed by the direct competitors of Binance.
Earlier this week, the Binance exchange went through some network interruption and experienced some downtime on the platform. The CEO of the company, CZ later confirmed that Binance had actually been targeted by a number of denial of service attacks mainly on its Chinese domains. The CEO further argued that these attacks had been performed by the direct competitors of Binance.
The platform got hit by these attacks Earlier this week on Wednesday with the CEO explaining that the attack on the platform caused some large and in interruption of the network access. He then further claims that these attacks were put together by the competitors of the platform based on the pattern of the denial of service attack. For those that don’t know these denial of service attacks (DDOS) target floods of a system with fraudulent traffic through numerous different computers. This causes a disruption of the normal activities for the victim which in this case is Binance.
After CZ gave his opinion on what happened on Wednesday, he assured the users of the platform that their funds were safe and sound and that the team had worked tirelessly to get the systems up and running and back to normal. You can see his tweets below:
Earlier today, our Chinese domains experienced targeted DDoS attacks, and users saw some lag and interruption of network access.
— CZ Binance 🔶🔶🔶 (@cz_binance) April 29, 2020
Based on the attack pattern, it looks like work of our self-perceived competitors.
No need to be concerned. Systems are fine. Funds are #SAFU.
One user responded to CZ accusing the CEO of hiring hackers in order to strengthen their own security. He further added that by hiring hackers to do so, he can find loopholes in the securities system. You can take a look at what CZ said in response here:
We of course do. We also have self-perceived “competitors” doing testing for us. Everyone is working on @Binance. https://t.co/hw6YKlRzVa
— CZ Binance 🔶🔶🔶 (@cz_binance) April 29, 2020
It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!
