• Advertise
  • Submit a Press Release
  • About Us
NewsBTC

Bitcoin & cryptocurrency news

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
      • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • CasinosTry
  • Play GamesTry
  • Play Casino GamesTry
  • Best Crypto CasinoTry
No Result
View All Result
Breaking News: Ethereum Price Cracks Above $2,000 As BlackRock Eyes ETH ETF
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
      • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • CasinosTry
  • Play GamesTry
  • Play Casino GamesTry
  • Best Crypto CasinoTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Ethereum Price Cracks Above $2,000 As BlackRock Eyes ETH ETF
Bitcoin Exchange OKCoin Statement After July DDOS Attacks

Bitcoin Exchange OKCoin’s Statement After July DDOS Attacks

newsbtc by newsbtc
8 years ago
in Cryptocurrency Market News
Reading Time: 2 mins read

Last week, bitcoin exchange OKCoin suffered a DDOS (distributed denial of service) attack, preventing users from accessing the platform for a while. On the afternoon of the attack, the company’s significant resources capable of defending against such attacks were able to limit the impact on the Chinese platform’s K-line.

However, another stronger attack was made later on in the same day, leading the tech team to immediately set in motion the emergency response plan of switching to a highly secure server and enacting counter CC attack measures. This took some time to take effect so some users still encountered problems when it comes to accessing the bitcoin exchange.

Bitcoin Exchange Compensation

In a statement published on its blog, OKCoin shared the details on why some customers still had login problems even if the emergency measures were put in place. The company also addressed questions regarding trades that have gotten executed even during the attack and speculations against price manipulation.

In addition, OKCoin shared that they will carry out proportioned compensation according to the user’s realized losses. Starting today, the bitcoin exchange will begin contacting customers who suffered losses as a result of being unable to access OKCoin’s futures platform on July 10th from 17:00 to 17:19.

Aside from that, OKCoin will fund the purchase of 1000 bitcoins, while also using 1000 bitcoins from the clawback and vicious attack insurance fund to together create a 2000 bitcoin incident compensation fund. The company has also pledged to hand over the logged actions related to the attacks to the national police for an investigation of the source of these attack.

In the meantime, the bitcoin exchange also decided to remind customers of the inherent risks associated with trading cryptocurrencies. The company emphasized that the digital currency industry is still in its early stages and firms are still adjusting to potential criminal attacks as they go along.

Tags: bitcoin ddosBitcoin hackbitcoin malwarebitcoin scamHackedNewsOKCoin hack
Tweet123Share196ShareSend
newsbtc

newsbtc

Related Posts

Ethereum price crash

Why Is Ethereum Price Down To $2,200 Today?

13 mins ago
Bitcoin

Hold Your Horses: Bitcoin Could Fall Back To Under $38,000, These Analysts Say

3 hours ago
Brian Armstrong Announces Solana Integration – Everlodge Announces AI Integration

Brian Armstrong Announces Solana Integration – Everlodge Announces AI Integration

5 hours ago
3 Reasons To Watch The Bitcoin Price This Week As Bitcoin Minetrix Token Raises $5 Million

3 Reasons To Watch The Bitcoin Price This Week As Bitcoin Minetrix Token Raises $5 Million

17 hours ago
Ethereum

Ethereum Rises: ETH Remains Steady At Over $2,300 Amid Bull Market Expectations

19 hours ago
Ethereums Future Will Ethereum Recover?

Ethereums Future: Will Ethereum Recover?

19 hours ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit
Inmerion

Inmerion

Review · Visit

Press Releases

  • These 3 tokens under $3 are worth every penny, Shiba Inu...

    31 mins ago
  • Crypto News Update: Dogecoin (DOGE) hit the resistance at...

    35 mins ago
  • Green Bitcoin Uses Less Energy Than Bitcoin and Others...

    1 day ago
  • The Top 5 Crypto Presales for 100x Returns In 2024

    1 day ago
  • PolySign, Inc. PUBLIC AUCTION NOTICE OF FORECLOSURE SALE

    2 days ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
      • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Casinos
  • Play Games
  • Play Casino Games
  • Best Crypto Casino

© 2023 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.