CDNetworks Safeguards Cryptocurrency Exchange: Defying a 1.025 Tbps Blockchain DDoS Onslaught

SINGAPORE – 25/01/2024 – (SeaPRwire) – In a remarkable display of cybersecurity prowess, CDNetworks, a dominant force in the APAC region delivering edge as a service, thwarted a relentless Blockchain DDoS attack targeting a cryptocurrency exchange on January 9, 2024, reaching a staggering peak of 1.025Tbps. Coincidentally, this assault unfolded on the eve of a groundbreaking moment as the U.S. SEC granted approval for the first U.S.-listed Bitcoin Exchange-traded funds (ETFs). This audacious attack, directed at a specific cryptocurrency exchange with exceptionally high peak volumes, has heightened global awareness for organizations in the cryptocurrency sector regarding potential threats.

The assailants employed over 400,000 IP addresses and a significant botnet network arsenal to launch an offensive on the API interface of the cryptocurrency exchange. This strategic assault, synchronized with the approval of the first U.S.-listed ETFs by the U.S. SEC, signifies a pivotal moment in the landscape of blockchain cybersecurity threats.

In a statement, Doyle Deng, Head of Global Marketing and Product at CDNetworks, emphasized, “The probability of an attack was notably high, especially considering the timing on the eve of the US SEC’s approval of Bitcoin ETFs. Collaborating with us to implement our Expert Emergency Response services or Major Event Support could have entirely averted the situation.” He lauded the service team for their vigilant monitoring and collaborative efforts with clients, ensuring a swift and effective response to the DDoS attack.

Delving into the Details of the Watershed DDoS Attack

This incident transpired on a cryptocurrency exchange utilizing CDNetworks’ DDoS protection solution. The attackers zeroed in on the API interface crucial for trading on the exchange’s website, aiming to disrupt its trading capability with a DDoS attack ahead of a major market event. To their dismay, CDNetworks successfully defended against the attack, mitigating potential financial losses.

Application Layer DDoS Attack:

  • Primary Attack Methods: Orchestrated HTTP Flood Attacks
  • Time Period: From 11:40 A.M. to 12:45 P.M. EST, January 9, 2024.
  • Highest Volume: Peaking at 2,378,751 RPS

Network Layer DDoS Attack:

  • Primary Attack Methods: SYN Flood, ACK Flood, and more
  • Time Period: From 12:45 P.M. to 1:17 P.M. EST, January 9, 2024.
  • Highest Volume: 1.025Tbps

Successful Mitigation Unveiled

CDNetworks adeptly repelled a meticulously planned DDoS attack, leveraging its robust global distributed scrubbing resources and cutting-edge protection technologies, including AI. These technologies proactively analyze and defend against abnormal attack characteristics in real time.

For a comprehensive understanding of how CDNetworks thwarted the 1.025 Tbps blockchain DDoS attack on the brink of ETF approval, explore our detailed blog post outlining the mitigation process.

About CDNetworks

As the unrivaled network leader in the APAC region with over 2,800 global Points of Presence and a legacy of 20+ years in technology, CDNetworks embraces the new era of Edge. Leveraging the Edge as a service, CDNetworks is committed to delivering the fastest and most secure digital experiences to end users. Our diverse portfolio includes web performance, media delivery, cloud security, zero trust security, and colocation services, uniquely designed to fuel business innovation. For more insights, visit cdnetworks.com and connect with us on LinkedIn.

SOURCE CDNetworks

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