An illustrious cryptocurrency lender, BlockFi is grappling with another cyberattack on its platform at the beginning of this week. The company’s employees recognized a malicious attack by a suspicious actor sending junk e-mail on the platform’s sign-up page. The activity was registered with over 1,000 emails where only half of them were discovered to be from valid email ids belonging to real users. The malicious actors spam the page with fake accounts using offensive language. The attacker put offensive terms in the place of the first and last names of the account registration page. They flood the system with hundreds of unfinished registrations as well. BlockFi Grapples With Another Cyberattack BlockFi’s CEO and co-founder Zac Prince says: “I think this spam attack was designed to try and create negative sentiment around BlockFi by trying to get emails sent with vulgar language in them” He estimated around 500 such emails were actually sent before the problem was caught. Prince also tweeted early morning about the temporary pausing of new signups stating: “To a minor technical issue with the new account signup workflow” and assured about the technical glitch. He added, “Deposits/Withdrawals/Trading, etc continues to operate completely normally for existing clients” The news of the attack came when BlockFi is processing the closing of a Series D round of capital at a valuation close to $3 billion. The potential crypto unicorn is growing at an unprecedented speed. The Leading Cryptocurrency Lender The incident raised red flags, given that the three-year-old firm is suffering a temporary data breach that exposed some client data last May. The company’s Co-founder Zac Prince has reportedly said: “the hackers have never been successful in penetrating internal company’s systems” and describe the last attempt as “ just shooting lasers at the onion.” Following the May attack, the new Chief Security Officer Adam Healy was being hired. According to Prince, Healy has made the improvement by expanding the cybersecurity team to over 15 people and looking to add more to the team.
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