Report: Cryptocurrency Exchanges Most Common DDoS Victims Worldwide

December 12, 2017 4:58 pm Published by

The risks of operating digital currency sites and Bitcoin exchanges were revealed in a new report which says the most common targets of distributed denial of service (DDoS) attacks are these sites, Cointelegraph reported Tuesday.

Three out of four Bitcoin sites were victims of DDoS attacks in the third quarter of 2017 alone, Impervia Incapsula said in a report titled “Q3 2017 Global DDoS Threat Landscape.”

A DDoS attack happens when multiple users flood the bandwidth or resource of a targeted system with traffic, thus disallowing legitimate parties to access the site or service, the Cointelegraph report said.

The report describes seeing “attacks targeting a relatively high number of cryptocurrency exchanges and services. This was likely related to a recent spike in the price of Bitcoin, which more than doubled in the span of the quarter. Overall, more than 73 percent of all Bitcoin sites using our services were attacked this quarter, making it one of the most targeted industries, despite its relatively small size and web presence,” Cointelegraph reported.

Based on the report findings, Cointelegraph reported, additional sectors like Internet service providers and online gambling and gaming operators were hit by DDoS attacks as well.

The report said countries experiencing the highest number of attacks and number of targets include the US, China, Hong Kong and the Philippines for network layer DDoS attacks.

For application layer DDoS attacks, the report continued, the most targeted countries included the US, the Netherlands and other developed countries with mature digital marketplaces like Singapore, Japan and Australia.

The report also claimed that the countries where the majority of botnet traffic originated included China, Turkey and India. China has maintained its position as the main location of attack devices with more than 40 percent of the total, Cointelegraph reported., Jack Durschlag

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