The most valuable stablecoin, USDT, has been the target of a Distributed Denial of Service (DDOS) attack. This is according to a tweet from Paolo Ardoino, Tether’s CTO. The company has reportedly been targeted before, according to the June 18 tweet.

“They tried it once,” Ardoino said.

According to the Tether executive, the attackers submitted a ransomware lawsuit on the morning of June 18. A large-scale DDOS was caused by the company’s refusal to comply with the demands.

“We often get 2k requests every five minutes on a typical day. The attack increased our demand to 8M in 5 minutes.”

Attack Mitigation

The primary ASN that Cloudflare recognizes is AS-CHOOPA, Ardoino continued, which helped mitigate the attack. He also made it clear that Tether suffered no losses as a result of the attack.

Austin Federa, head of communications at Solana, asked if 8 million requests made in less than a minute constitutes a DDOS attack. A jump from 20,000 to 80,000 should be seen as an attack, in Ardoino’s opinion.

The CTO commented on what the attackers wanted to gain since it would not affect the USDT chain

“Imagine a journalist who visits and finds the 502 error on the page. They will fly immediately.: Tether site is down! I told you

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This post Tether Experience the DDOS attack! Here is the perspective of what really happened! – Coinpedia – Financial Technology and Cryptocurrency News Media

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