Popular derivatives trading platform BitMEX made the news recently when Bitcoin (BTC) hit $3,600 on its platform. The firm, in a recent publication, said the platform attacked.
According to the publication, the crash was caused by two distributed denial-of-service (DDoS) attacks, with just a few hours in between. BitMEX says that the attacks specifically delayed many clients’ requests, and completely prevented some entirely.
BitMEX says it discovered the first DDoS attack, launched by a botnet on March 13, at 02:16 UTC. The attack hijacked the platform’s CPU usage completely, causing a failure. BitMEX says it initially misdiagnosed the problem as a “failed disk”, concluding that the problem was a disruption from its cloud provider.
10 hours later, at 12:56 UTC, a second attack happened, from the same botnet. The platform says its traffic filtering systems blocked the traffic, which resulted in a buildup.
BitMEX has admitted that 156 accounts were breached and “erroneously triggered on ETHUSD” because market orders were already processed late. It, however, paid out compensation.
“For each stop that triggered erroneously during this period, BitMEX calculated the delta to the printed Index Price and refunded the user. A total of 40.297 XBT was refunded.”
Last month, XRP traders on BitMEX were angered when the price fell from $0.32 to $0.14, within one single candle.
Image Credits: Pixabay
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