Tether CTO, Paolo Ardoino, confirmed that the Tether website is currently undergoing a DDOS attack due to poor DDOS attack protection. On Jun 18, 2022, the number of requests for the website increased from 2,000 to 8,000,000 every five minutes. The chart below represents the increase in requests.
Paolo Ardoino confirmed that the DDOS attack is now weakened, but Tether is “leaving the ‘I’m under attack mode’ enabled” for DDOS attack protection and to diminish further risk. Tether's CTO further stated that the additional security move “won’t affect the ability to redeem.”
Tether's CTO also confirmed that the reason for the DDOS attack was that “it takes a bit of time for the auto-scale to adjust.” Regarding this, he points to the server's capability behind the website to manage resources and cope with the unexpected increase in requests. Earlier on Saturday, Tether’s CTO tweeted: “It will be a long weekend,” but it is unlikely he expected it to be due to a DDOS attack protection mechanism on Tether’s website.
A short answer would be to keep your crypto off exchanges! You can send your crypto assets to a hot wallet, which is an online wallet, or a cold wallet, which is an offline wallet and therefore provides more security. At Cryptologi.st, we have provided everything you need to know when you face challenges while surfing through the crypto world. These challenges could be identifying scams, what wallet to choose, what exchanges to use, and so on. We have provided hundreds of articles on these topics and pro investor’s tools FOR FREE so you can clear your vision and make confident crypto decisions! Introduce us to your friend and foe!
Any advice contained in this website is general advice only and has been prepared without considering your objectives, financial situation, or needs. You should not rely on any advice and/or information contained in this website and before making any investment decision we recommend that you consider whether it is appropriate for your situation and seek appropriate financial, taxation, and legal advice.
© 2022 - Created by Cryptologi.st