CDNetworks Successfully Mitigated a Blockchain DDoS Attack, Peaking at 1.025 Tbps, on the Eve of Bitcoin ETF Approval

CDNetworks, the APAC-leading network to deliver edge as a service, successfully detected and shielded a cryptocurrency exchange from a relentless Blockchain DDoS attack that occurred on January 9, 2024, which peaked at 1.025Tbps. Coincidentally, the attack occurred on the day before the U.S. SEC approved the first U.S.-listed Bitcoin Exchange-traded funds (ETFs). The ferocious attack, targeted a specific cryptocurrency exchange with extremely high peak volumes, raising global alert levels for organizations in the cryptocurrency industry to potential threats.

The attackers used over 400,000 IP addresses and a substantial number of botnet network resources to launch an attack on the API interface of the cryptocurrency exchange. This incident, timed with the approval of the first U.S.-listed ETFs by the U.S. SEC, marks a turning point for blockchain cybersecurity threats.

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Doyle Deng, the Head of Global Marketing and Product at CDNetworks, explained, “The likelihood of an attack was high, especially on the eve of the US SEC’s approval of Bitcoin ETFs. It could’ve been completely avoided if the exchange had collaborated with us to implement our Expert Emergency Response services or Major Event Support.” He added, “I commend our service team for their diligent monitoring and cooperation with clients, which ensured a swift and effective response to the DDoS attack.”

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Details of This Watershed DDoS Attack

This incident happened on a cryptocurrency exchange that was using CDNetworks DDoS protection solution. The attackers targeted the API interface used for trading on the exchange’s website. Their aim was to disable the exchange’s trading capability with a DDoS attack before an upcoming major market event. To their dismay, CDNetworks successfully defended against the attack and prevented potential financial losses.

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