Nearly Three-Quarters of Bitcoin sites have suffered DDoS Attacks

The rise of DDoS attacks

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In the third quarter, this year DDoS attacks have increased. In a report released by DDoS mitigation firm Imperva Incapsula nearly three-quarters of all Bitcoin-related exchanges have been attacked. This has made the Cryptocurrency industry one of the most targeted. In facts, it’s currently the 8th most targeted in the world.

The continued increase in price and popularity is what is making the industry so targeted. A good example is Bitcoin whose current price is $12,000 moving from $950. It could also be likely that less popular firms organize DDoS attacks so as to steal business from Bitcoin because it’s becoming so popular.

It’s also very hard to ignore DDoS ransom remands which have been increasing in the last two years as they attempt to control the Bitcoin price. According to the Marketing Director of Imperva Incapsula Igal Zeifman, the shift by attackers towards Bitcoin is a normal shift. According to Igal: “Attackers are always attracted by successful online industries especially the new ones which are less protected.”

DDoS is learning new tactics now and then

In this quarter Incapsula saw DDoS to be learning new ways and having new capabilities. The company noticed many attacks in terms of traffic per second and also packets per second. In the fourth quarter, attacks moved up from 6 in the first quarter to 144 attacks. Another group called Cloudflare also gave a similar report about the rise of DDoS attacks.

DDoS attacks are now becoming multi-vector

The main information in the Imperva was however not about the rise of DDoS capabilities. The main report said that more than 705 of DDoS attacks were multi-vector. This is attacks that use different protocols for DDoS attacks. Such protocols may include UDP, NTP, DNS, and SYN.

These attackers always look for companies with multivector in the start and then change the focus to the ones with effectiveness against defenses.Most attackers seem to change vectors at short intervals. They operate in a way that they can prolong the attacks before companies can track down the attacks.
The report also showed that most of this attacks are hired which means DDoS for hire tack has the ability to handle multivector attacks.

In conclusion, the growth in Bitcoin and other cryptocurrencies is attracting attention even of attacks. This shows that the industry is growing. However, firms should strengthen their security system to safeguard members investment. Initiators of this attacks should also be reported and action taken against them.

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