UK Crypto Exchange EXMO Knocked Offline Amid DDoS Attack

his week the cryptocurrency exchange EXMO was knocked offline by a “massive” DDoS attack, the UK-based company has confirmed. 

Normal operations were back up as the trading service was brought back to life within two hours, but the platform has yet to reveal the true nature of the cyberattack.

EXMO, which is popular in Russia, Ukraine and Kazakhstan, said that the attack was a malicious attempt to disrupt normal traffic of the exchange’s server. The exchange saw a spike in traffic this Monday at 16:10 GMT and the number of connections attempting to reach its servers was enough to temporarily disrupt its activity.

Experts Comments

February 18, 2021
Bindu Sundaresan
Director
AT&T Cybersecurity

Distributed denial of service (DDoS) attacks are a favorite method for attackers to disrupt or debilitate firewalls, online services, and websites by overwhelming systems with malicious traffic or transaction requests. DDoS attackers accomplish this by coordinating an army of compromised machines, or 'bots', into a network of devices they control from a remote location that focuses a stream of activity toward a single target. These botnets may be used to perpetrate DDoS with a range of

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Distributed denial of service (DDoS) attacks are a favorite method for attackers to disrupt or debilitate firewalls, online services, and websites by overwhelming systems with malicious traffic or transaction requests. DDoS attackers accomplish this by coordinating an army of compromised machines, or 'bots', into a network of devices they control from a remote location that focuses a stream of activity toward a single target. These botnets may be used to perpetrate DDoS with a range of malicious techniques, including: 

  • Saturating bandwidth with massive volumes of traffic,
  • Filling up system resources with half-open connection requests
  • Crashing web application servers with voluminous requests for random information

The trend is towards shorter attack duration but more immense packet-per-second attack volume. Motives today can include an interest in obtaining a financial reward, making an ideological statement, creating a geopolitical advantage, or exacting revenge for particular government action, corporate campaign, or policy stance.  Types of DDoS attacks can include volumetric, protocol-based, and application-based. DDoS attacks are getting more powerful because they're getting more complex, using many different devices, and targeting other parts of the victim's network. Indeed, attackers are learning that the most basic DDoS attacks are becoming less effective, so they are dropping them in favor of more powerful campaigns.

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