The post XRP Ledger Under Attack: Magnetic X Shields DDoS with New Security Boost appeared first on Coinpedia Fintech News
Magnetic X one of the fastest-growing decentralized exchanges built on the XRP ledger recently successfully protected a major distributed denial of service (DDoS) attack. The attack that was directed at the platform earlier was supposed to disrupt its services by flooding the system with requests.
The hackers demanded around several thousand Tether (USDT) as a ransom but the developers of Magnetic X denied the idea of paying the ransom and decided to improve the platform’s security.
Technology to Support Large User Volumes
Though there was an attack, Magnetic X changed and adjusted the scale of servers to handle millions of requests from users. This quick action made it possible for the company not to lose any user data and made the services go back to normal. Exchange users were assured that now Magnetic is 100% secure and working as it should be. But, it suggested to clear browser cookies if the website is having any issues left over it.
Continuing as a Threat to the XRP Ledger
This is not the first time the same has happened to Magnetic X for the company has faced the attack before. In January, the exchange received ‘a massive’ DDoS attack on the XRP ledger when millions of records overwhelmed nodes and impacted the ability for the historical transaction record of the ledger to function properly.
Nevertheless, Magnetic X continues to stay afloat through thick and thin while continuing to offer decentralized trading, AMM pools, and yield farming services.
The quick response that Magnetic X has presented to the DDoS attack shows the firm’s assertiveness on security and availability. With a newly designed architecture, the exchange plans to continue to be the leading dApp on the XRP Ledger.
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