On January 9, 2024, APAC-focused CDN solutions provider CDNetworks demonstrated its cybersecurity capabilities by successfully thwarting a massive Distributed Denial of Service (DDoS) attack targeted at a prominent cryptocurrency exchange. The attack, peaking at an unprecedented 1.025 Tbps, coincided with the U.S. Securities and Exchange Commission's (SEC) historic approval of the first U.S.-listed Bitcoin Exchange-Traded Funds (ETFs).
The attack employed over 400,000 IP addresses and a vast array of botnet networks to launch a massive DDoS attack on the exchange’s API interface. This concerted effort aimed to cripple the trading capabilities of the exchange just as the cryptocurrency market braced for a major event – the SEC's endorsement of Bitcoin ETFs.
Doyle Deng, Head of Global Marketing and Product at CDNetworks, emphasized the gravity of the situation, noting the high risk of attack in the context of the SEC's impending decision. “The exchange could have completely averted this attack with our Expert Emergency Response services or Major Event Support,” he stated. Deng lauded his team's vigilant monitoring and collaboration with clients, which played a pivotal role in the rapid and efficient neutralization of the DDoS attack.
DDoS Protection
During the attack, the perpetrators employed HTTP Flood attacks in the initial phase, followed by SYN Flood and ACK Flood techniques. Despite the DDoS attack's sophistication and immense scale, CDNetworks’ advanced DDoS protection solution, equipped with global distributed scrubbing resources and cutting-edge AI technology, successfully defended the cryptocurrency exchange. This proactive defense mechanism effectively analyzed and mitigated the abnormal attack characteristics in real-time, averting potential substantial financial losses.
The successful mitigation of this attack by CDNetworks not only showcases the company's cybersecurity acumen but also serves as a stark reminder of the evolving and sophisticated threats facing the blockchain and cryptocurrency sectors. As digital currencies continue to gain mainstream acceptance and attract regulatory attention, the need for robust, AI-driven cybersecurity measures may become increasingly imperative.
