Bank of Spain website hit by DDoS Cyber Attack

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Bank of Spain (BoS) which was established in Madrid in 1782 has officially declared that a DDoS cyber attack hit its website database on Sunday last week. However, the company specified in its statement that none of the data of the account holders was compromised in the attack which is reported to have lasted for 4 hours.

Banco De Espana (BoS), now a part of European System of Central Banks has made it clear in its statement that the attack did not impact its banking services or communication with the European Central Bank or other financial institutions and there was no data breach.

Sources reporting to Cybersecurity Insiders say that the attack resulted in blocking the web traffic access to the website for a couple of hours. And the IT staff of the bank acted swiftly to bring back the services to normalcy by early Monday.

Note 1- Distributed Denial of Service Attack (DDoS) also known as the denial of service attack is a variant of the cyber attack in which cybercrooks hit the target computer/server with humungous amounts of fake traffic generated from bots. This targeted fake traffic results in disruption of the hosted website on a temporary note.

Note 2- Bank of Spain is reported to be a national supervisor of the Spanish banking system and is regulated by the law of Autonomy of the Banco De Espana. It is being partially governed by the Spain government and is said to have 9, 05 million troy ounces- as of 2015.

Note 3- Troy Ounces is a unit used to measure precious metals like gold, silver, palladium and such…. 1 Troy ounce is equal to $1200 appx and is subjected to market changes.

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Naveen Goud is a writer at Cybersecurity Insiders covering topics such as Mergers & Acquisitions, Startups, Cyber Attacks, Cloud Security and Mobile Security

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