News Report Technology
January 02, 2024

Slow Mist Founder Issues Warning of Surge in Low-Cost DDoS Attacks on Inscription Markets

In Brief

Online markets and wallet applications face low-cost DDoS attacks along with Cache-Control (CC) disruptions, said Slow Mist founder Yu Xian.

Slow Mist Founder Issues Warning of Surge in Low-Cost DDoS Attacks on Inscription Markets

In a recent development, online markets and wallet applications faced a surge of low-cost Distributed Denial of Service (DDoS) attacks, accompanied by Cache-Control (CC) disruptions.

Yu Xian, Founder of Slow Mist took to social media platform X, to shed light on the unsettling trend, describing the attacks as originating from the dark web services, deploying notably inexpensive yet effective techniques.

Xian termed such attacks as a “law of the jungle” tactic that has persisted through the ages. He noted that beyond enhancing their service performance, online platforms must invest in defense mechanisms to fend off these disruptive assaults.

Cloud platforms offer anti-DDoS solutions, and third-party services such as Akamai and Cloudflare are available, with the effectiveness of defense directly tied to the expertise of technical personnel, he said.

While DDoS/CC attacks may appear daunting, Xian reassures that some are relatively small in scale. He advises against panic and suggests practical solutions such as using “iptables” on Linux to mitigate potential risks. He outlined a cautionary note, predicting that surviving markets will ultimately gain from the chaos, acquiring users as others succumb to the onslaught.

As the battle between attackers and defenders continues, the resilience of online services hinges on their ability to invest wisely in defense strategies.

Cybercriminals are drawn to the potential financial gains resulting from disrupting wallet applications, creating chaos and exploiting vulnerabilities during service disruptions. Moreover, the deployment of inexpensive yet effective techniques has made these attacks more prevalent.

Wallet applications house sensitive user information. DDoS attacks serve as a smokescreen, diverting attention while attackers attempt to exploit vulnerabilities and gain unauthorized access to valuable user data.

Strategies to Counter Wallet Application DDoS Attacks

In the wake of a surge in DDoS attacks targeting wallet applications, cybersecurity experts are advocating for proactive measures to bolster defenses against these disruptive assaults. As online markets grapple with the menace of low-cost DDoS attacks, the need for robust strategies to ensure service stability and user security has never been more pressing.

Employing reputable DDoS mitigation services can provide an extra layer of defense against volumetric attacks. These services specialize in filtering out malicious traffic and ensuring the availability of online services. Further to this, strengthening network security measures, including firewalls and intrusion detection systems, can help identify and block malicious traffic before it reaches the application servers.

Distributing incoming network traffic across multiple servers through load balancing can mitigate the impact of DDoS attacks. This ensures that no single server bears the brunt of the assault, maintaining service availability. Also, conducting regular security audits to identify and address vulnerabilities in wallet applications is crucial. This proactive approach helps prevent potential exploits before they can be leveraged by malicious actors.

Leveraging the security features offered by cloud platforms and engaging with their anti-DDoS solutions can enhance overall resilience against attacks. As the battle between attackers and defenders in the digital landscape intensifies, experts emphasize the importance of a multifaceted defense strategy.

Disclaimer

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About The Author

Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.

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Kumar Gandharv
Kumar Gandharv

Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.

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