Bitfinex was hit with a distributed denial of service (DDoS) attack on December 12. The DDoS took Bitfinex offline even as cryptos were making some of wildest moves of 2017.
Bitfinex acknowledged it was under attack and tweeted that the Bitfinex Application Programming Interface (API) was down, promising that the company was working on a solution.
Last month, Tether, a cryptocurrency startup reportedly owned by the same people who own Bitfinex, said it lost $31 million to hackers in a security breach. Whether the Tether debacle was indeed a security breach, or as some crypto enthusiasts have speculated, an inside job it, its another black eye for the industry.
Bitfinex has already backed away from serving customers in the United States due to the cost of doing business with Americans. They had a partnership of sorts with Wells Fargo (WFC), but the bank decided to end a contract that obliged it to help US customers send money to Bitfinex and Tether’s banking service providers in Taiwan.