Changing Zhao, the Binance founder and CEO has tweeted that the Chinese domains are experiencing a DDoS attack on his platform.  He went on to add that while there are some lag and network access is difficult right now, the users can rest assured that their funds as they say in the cryptocurrency world, are safu.  The DDoS attack is carried out via the use of a botnet, a gush of traffic on the targeted system.
<blockquote class="twitter-tweet">
We of course do. We also have self-perceived “competitors” doing testing for us. Everyone is working on <a href="https://twitter.com/binance?ref_src=twsrc%5Etfw">@Binance</a>. <a href="https://t.co/hw6YKlRzVa">https://t.co/hw6YKlRzVa</a>
— CZ Binance ??? (@cz_binance) <a href="https://twitter.com/cz_binance/status/1255446925274472448?ref_src=twsrc%5Etfw">April 29, 2020</a></blockquote>
CZ has cooked up an interesting theory and says from what he can understand by the pattern of the attack, that it is carried out by one of their arch-rivals. The Chinese customers were troubled by the DDoS attack and complaint about the website lagging and being sluggish when they access it, primarily on the contact page.

The market meltdown in March witnessed allegedly a similar DDoS attack on BitMEX, which claims it was attacked twice. Some voices, however, were in full flow that there's some conspiracy behind it and targeted the platform claiming they did it on purpose to stop bitcoin price from declining further.

CZ claimed that time that they're not taking these attacks lightly and are working on improving the system capacity and being very cautious and guarded in their approach to not fall victim to a similar sort of attack.  However, it appears it wasn't all that successful and the cryptocurrency exchanges remain prone to such attacks.
<h2>This Could be a Big Blow For Binance </h2>
This would definitely be a bummer to Binance which was gaining further credibility as it was experiencing new customers in April, unlike other platforms. Changpeng Zhao believed that Binance is benefiting because users from other platforms are migrating to it.

It would be interesting to see if the trend still continues in the aftermath of the DDoS attack.

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Chinese Domains on Binance Under a DDoS Attack- CZ

Changpeng Zhao, the CEO of binance has confirmed on twitter that the Chinese domains on his crypto platform experienced a DDoS attack.

Zain is a fervid fan of bitcoin and has been meticulously covering the field for a fair amount of time now. An aficionado of Spider man, Liverpool and Slim Shady.

Chinese Domains on Binance Under a DDoS Attack- CZ

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