Currency.com fends off DDoS attack after shutting off Russia clients
Crypto exchange Currency.com has confirmed in a statement that it was the target of a failed distributed denial of service (DDoS) cyber-attack. The DDoS attack was attempted on Tuesday, 12 April. The attack was unsuccessful and no customer accounts or data were compromised during the incident.
The attempted cyber-attack occurred on the same day Currency.com announced it was halting operations for residents of the Russian Federation. Currency.com had an estimated 500,000 clients in Russia.
Currency.com said it took immediate action, ensuring the integrity of its cyber security systems, notifying authorities and activating the company’s global network of IT professionals and third-party experts to the situation. The company servers, including its backup servers were not affected, and are actively working.
Currency.com’s servers are housed in an ultra-secure locked private cage serviced by LD4 Equinix, one of the world’s foremost professional data centres. They are protected by armed guards and video surveillance. LD4 Equinix is used by many of the world’s leading exchanges including the Dow Jones, Nasdaq, and the London and Frankfurt stock exchanges.
Viktor Prokopenya, Founder, Currency.com said:
“Currency.com has identified security as a big concern for investors when choosing a trading platform. We are a global business whose executives have years of experience in creating transparent, secure and powerful trading systems. Thanks to Currency.com’s robust security measures, we were able to thwart the attempted DDoS attack. All our servers, systems and client data remain intact and uncompromised.”
Regarding the source of the cyber attack, Mr. Prokopenya added in a quote to the Sunday Times,
“You don’t have to be a rocket scientist. We’ve been attacked before, like all financial firms, but the size of this was incredible: ten times anything we have ever seen.”
Currency.com has robust security measures and has never been hacked. It offers the best user-account security, implementing the strongest two-factor authentication (2FA) in all aspects of our platform, including login, deposits, trading and any actions using API keys. Clients can also enable a separate 2FA channel (known as a Master Key) in the unlikely event they lose access to their account. There is a mandatory requirement to secure client accounts, along with full security event activity logging, and whitelisting of devices and IP addresses. Payments are secured through to the highest level of PCI-DSS compliance with an intuitive customer experience at the core.
Currency.com added that it will further test and enhance its systems and processes to ensure it continues to remain robust and resistant to potential cyber-attacks. The company said that it strongly condemns the war in Ukraine and has donated over $1 million to humanitarian charities in Ukraine.
Currency.com is a high-growth, crypto exchange helping everyone securely connect with the booming world of cryptocurrencies. An innovator in the fiat-to-crypto space, it allows investors to buy, store and invest in top-traded cryptocurrencies. To help investors trade with confidence, the exchange is fitted with robust risk management controls, transparent pricing and extensive financial education content. In 2021, the crypto platform reported a 343% growth in its client base, making it one of Europe’s fastest growing cryptocurrency exchanges platforms.
Currency Com US LLC is registered with FinCEN as a Money Services Business. Its parent entity, Currency Com Limited, is authorised by the Gibraltar Financial Services Commission to provide Distributed Ledger Technology services under license number 25032. Currency.com has offices located in Cyprus, US, UK and Gibraltar.