As Zhao Cointelegraph said on May 4, The April 29 attack was “well coordinated” and focused on making Binance’s services unavailable in some Asian countries.
Competitors behind the attacks?
Zhao emphasized that there are “a number of signs” that these attacks are from competing exchanges..
In the statement, Binance’s CEO claimed that DDoS attacks are more expensive for hackers than for the exchange itself.
CZ provided further details on the specific goals of DDoS:
“The attacks were directed against all of our public endpoints in these target regions at the same time. We use a wide range of caching, bundling and distribution services to optimize user access performance from all over the world. And we use different combinations for each region of services and architecture. “
The alleged “Black Media” campaign against Binance
On the other hand Zhao said there is some well-coordinated black media effort against Binance, with Chinese industry as an example.. There claims there is an “entire blakc media industry” responsible for writing negative articles “until you pay for them”..
Binance’s CEO claims that these “black media” accept payments from Binance’s competitors to continue writing more negative articles against him.
CZ commented on the same line:
“If you’ve been in the industry for a long time, you know who they are. It’s also well known in the Chinese community, but somehow the industry still exists. Long articles within 5 minutes of the less impacted attacks about how unreliable our services are and what negative things you can blame Binance for. “
Back to DDoS attacks, He clarified that there were a second and third wave of attacks last Thursday and Friday, but they had no effect as the exchange had taken self-defense measures..
Binance volume rose to an all-time high
Zhao found that Binance had a historic trade volume at the time of the attack and $ 24 billion in 24-hour trade after the attack.
As Cointelegraph reported in early March, DDoS attacks were directed against OKEx and Bitfinex, and there was suspicion of a possible connection with the Binance attack.
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