Russian Hackers Target Currency.com With Massive DDoS aAttack
Currency.com, one of the cutting edge trading platforms bringing crypto to the masses, suffered a massive cyberattack attempt after announcing that it would halt all operations in Russia last week due to the ongoing invasion of Ukraine.
By Andrew Senior
April 19th, 2022
The widely popular trading platform revealed in an April 12 press release that it had been targeted with a distributed denial of service (DDoS) cyber-attack which was successfully halted in the early stages of the attack. Currency.com has confirmed that the attack was unsuccessful and that all user accounts, funds, and data were safe.
A DDoS attack takes place when hackers flood a platform with multiple requests for its services, thus overwhelming its infrastructure. Ukraine President Volodymyr Zelensky has identified several DDoS that originated in Russia where hackers attempted to target the country’s finance sector and defense ministry with various DDoS attacks and it seems that Russian hackers are continuing to widen their attacks putting any company that has withdrawn from the country in their crosshairs.
Viktor Prokopenya, founder of Currency.com commented on the attempted attack saying,
“Currency.com has identified security as a big concern for investors when choosing a trading platform. We are a global business whose executives have years of experience in creating transparent, secure, and powerful trading systems. Thanks to Currency.com’s robust security measures, we were able to thwart the attempted DDoS attack. All our servers, systems, and client data remain intact and uncompromised.”
Currency.com became the very first crypto trading platform to pull out from Russia due to the invasion of Ukraine while several other crypto exchanges such as Binance and Coinbase opted to continue operations in Russia, citing the decentralized nature of their business while only halting services for sanctioned individuals and companies.
Prokopenya revealed that the customer support team of Currency.com was overwhelmed with calls and even received multiple death threats after the platform decided to suspend its Russian operations, culminating in the recent cyber attack. Currency.com has dealt with cyber attacks in the past, but the most recent DDoS attack was ten times more intense than anything the company has encountered in the past.