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TrueUSD

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    <p>Auction-as-a-service provider <a rel="noopener noreferrer nofollow" title="Bounce Finance" href="https://thebittimes.com/tag/bounce-finance.html">Bounce Finance</a> says it is “working on additional auction utilities and system improvements” after it suffered a distributed denial-of-service (DDoS) <a rel="noopener noreferrer nofollow" title="attack" href="https://thebittimes.com/tag/attack.html">attack</a> during a <a rel="noopener noreferrer nofollow" title="public" href="https://thebittimes.com/tag/public.html">public</a> <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a> sale earlier today.</p>
    <p>According to the company’s X (formerly Twitter) account, it fell victim to “a coordinated <a rel="noopener noreferrer nofollow" title="attack" href="https://thebittimes.com/tag/attack.html">attack</a> orchestrated by miners and highly technical devs alongside with DDOS <a rel="noopener noreferrer nofollow" title="attack" href="https://thebittimes.com/tag/attack.html">attack</a>” which “disrupted user access and affected the auction’s integrity.”</p>
    <p>The attack happened during the public sale of BitStable’s BSSB token and, according to the decentralized protocol, saw “an unauthorized party acquiring the majority of the available supply.”</p>
    <p>It said that the issue was caused by a combination of a DDoS attack and the use of multiple wallets interacting directly with the contract. In response, it has made the “<strong>difficult decision” to burn 75% of the BSSB tokens involved in the auction</strong>. This apparently “effectively multiplies the participation cost for the implicated parties by sixfold.”</p>
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       <p lang="en" dir="ltr">Today, our platform encountered unexpected challenges during the BSSB token public sale. A coordinated attack orchestrated by miners and highly technical devs alongside with DDOS attack. This disrupted user access and affected the auction's integrity.<br><br>We recognize the importance… https://t.co/JKPbRsYocR</p>— Bounce Finance (@bounce_finance) November 29, 2023
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    <p><em>Read more: TrueUSD was hacked and issued fake tokens</em></p>
    <p>On its end, Bounce reportedly proxied the affected contract to a new address, however, according to blockchain intelligence firm ChainArgos, the new address “is not verified and publishes no ABI.”</p>
    <p>“We recognize the importance of robust and secure auction mechanisms,” Bounce said via X. “<strong>This incident, while unfortunate, has provided valuable insights</strong>. We are actively exploring enhanced solutions to ensure fair and transparent launches.</p>
    <p>“Our team is dedicated to maintaining a secure and equitable environment for all participants. We’re already working on additional auction utilities and system improvements. These measures aim to fortify our platform against similar incidents in the future.”</p>
    <p><em>Got a tip? Send us an email or ProtonMail. For more informed news, follow us on&nbsp;X,&nbsp;</em><em>Instagram</em><em>,&nbsp;</em><em>Bluesky</em><em>, and&nbsp;</em><em>Google News</em><em>, or subscribe to our&nbsp;</em><em>YouTube</em><em>&nbsp;channel.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bounce-finance-hit-with-ddos-attack-during-public-token-sale-tbt72045.html">https://thebittimes.com/bounce-finance-hit-with-ddos-attack-during-public-token-sale-tbt72045.html</a></p>

Bounce Finance hit with DDoS attack during public token sale

TheBitTimes

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