Cryptocurrency Rating release despite North Korea Cyberattack!

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For the first time in the history of Cryptocurrency, an American rating agency covering various finance-related business verticals like stocks, ETFs, mutual funds, insurance companies and banks have released the ratings for various cryptocurrency variants. Among them, Ethereum has bagged a ‘B’ class rating and Bitcoins has been accredited with ‘C+’ ratings.

But the rating release was filled with bottlenecks as a cyber group from North Korea tried their best in foiling the release of the accreditation. But the agency’s IT staff was smart enough to thwart those cyber attacks on time.

As per the sources reporting to Cybersecurity Insiders, the staff of the Weiss Ratings worked all night to defend the company’s server platform with Denial of Service Attacks(DDoS) from North Korea. They specified in a statement released a few hours ago that the attack was a plan of a hacking group funded by state-funded actors of Kim Jong Un led Korea.

Technically speaking, the rating agency gets a traffic of almost 1,000 visitors on a daily note to its website-mostly from the United States. But last night i.e on Tuesday, the traffic to the website jumped to 100,000 unique visitors in a matter of few hours- mostly from Asia.

Initially, the staff of Weiss Ratings tried to contain the traffic volume by expanding the capacity of the servers on the cloud. But later they realized the sudden rise in traffic was a fake activity and was emerging from various IP addresses located on the continent of Asia.

As the future for digital currency looks bright the release of ratings was much needed for all those enthusiasts who love to invest in digital coins. And surely Weiss Ratings will offer a boost to all of them….isn’t it?

Note- None of the 74 cryptocurrencies which the agency covers got an A+ rating in its latest release.

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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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