Waves’ DEX Gets Hacked Upon Launch

Recently, Waves formally launched its decentralized exchange following eighteen months in length beta period. The Waves DEX allegedly encouraged $6 million worth of digital currencies transactions at the end of its beta testing, outperforming the everyday volume of numerous opponent decentralized exchanges. The company proclaimed to be host to 330,000 wallets having a place with 90,000 traders.


In spite of the company’s certainty heading into the launch, Waves’ exchange and main company sites were seized by hackers looking to phish for users’ data relating to wallets. Following a few hours, Waves could reestablish access to its DNS server and restore its platform on the web.


The CEO of Waves, Sasha Ivanov, discussed the episode with the media, stating: “Someone just faked my passport and gave it to support [staff] at the domain company and they changed the password at his request. Then the attacker was able to change the main website.”


In light of the assault, Mr. Ivanov expressed: “We and the whole industry need to work on decentralized domain name systems.” A spokeswoman for Waves included that “the DNS servers of the Waves website are maintained by the registrar, and in this case, their security is beyond our control. Nevertheless, the security levels of the registrar are, indeed, in question, and so we are currently considering further action … to make sure that this one-time breach will never occur again.”


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