Cryptocurrency services are being DDoSed more frequently than banks, in Q1 2021.

8 September 2021

StormWalls data suggests that DDoS actors are beginning to shift their attention from banking and traditional fintech services to crypto, in 2021.

This shift could have been triggered by the recent bull run when thousands of companies began creating new crypto assets and attempting to crowd-fund their inventions. At the same time, centralized exchanges experienced a massive rise in trading activity, and thus — revenue. This activity generated a convenient target for excretion attacks. Threat actors are threatening to bring down websites with DDoS unless the victim pays a ransom.

crypto more than banks under attacks

However, the attacks have an opportunistic nature. If the market turns bearish I believe that we’ll see a decrease in attack volume in the crypto industry. If the market manages to resume the long-term bullish trend, we might see crypto creeping into those “top 5 most DDoSed industries pie charts.”