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BitMEXBitMEX, the largest cryptocurrency derivatives exchange, said the root cause of the DDoS attacks that occurred on March 13 was revealed. Over 40 BTC ($ 211,000) were returned to affected users.
BitMEX published a blog post saying that the exchange experienced two DDoS attacks (denial of service) the day the market began to plummet. The management believes that these two attacks on are related to DDoS – attacks that were committed last month. They are performed by the same actor and were used at the peak moment of market volatility. The target function was Trollbox (chat box). As soon as the attack was noticed, the chat box was stopped.
The platform provides 156 accounts for which ETHUSD price stops were erroneously triggered due to inadvertent late processing of market orders during the first outage. In total, BTC 40.297 was returned to users “for every stop that was erroneously initiated during this period.”
All personal data is protected, the platform assures. Now experts are working on solutions to prevent future attacks, isolate critical systems, increase automatic scalability under load, consider the oldest and most vulnerable parts of the system (for example, Trollbox), etc.
Recall that after the notorious market crash on March 13 in Cryptovers, there were speculations about exactly what role BitMEX played in all of this. Speculation arose after the exchange stopped trading, claiming that the platform had “hardware problems”. Some argued that there were no such issues, others said that trading on derivatives at a high level of leverage on the exchange exacerbates the loss in bitcoin price.
As reported, the exchange temporarily stopped trading on March 13 – just in the period of an active drop in the value of bitcoin. The BitMEX report indicates that the first attack was made on the same day at 2: 16. Whether these events are related is still not known.