Bounce Finance hit with DDoS attack during public token sale

  protos.com 10 h

Auction-as-a-service provider Bounce Finance says it is “working on additional auction utilities and system improvements” after it suffered a distributed denial-of-service (DDoS) attack during a public token sale earlier today.

According to the company’s X (formerly Twitter) account, it fell victim to “a coordinated attack orchestrated by miners and highly technical devs alongside with DDOS attack” which “disrupted user access and affected the auction’s integrity.”

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.”

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 “difficult decision” to burn 75% of the BSSB tokens involved in the auction. This apparently “effectively multiplies the participation cost for the implicated parties by sixfold.”

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.

We recognize the importance… https://t.co/JKPbRsYocR

— Bounce Finance (@bounce_finance) November 29, 2023