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McAfeeDEX hit by DDoS attack, days after beta launch

Chayanika Deka

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Source: Unsplash

After a short hiatus, John McAfee reappeared on the scene a few days ago, announcing the beta launch of a decentralized exchange (DEX), following the launch of the McAfee Magic trading platform back in July. However, the McAfeeDEX was soon under attack.

While Magic enabled users to trade on multiple exchanges from a single dashboard, the McAfeeDEX beta launch lets users simulate the trading of any token from an anonymous, open-source platform with no censorship, KYC or AML policy. The exchange will run on the Ethereum blockchain and will allow trading of any and all ERC-20 tokens. In a statement, McAfee had said,

“This is our last chance, not with me, but with distributed exchanges. You have to use them now. Governments are afraid of crypto, afraid of us, and they will do anything within their power to stop us. You can’t stop a distributed exchange. Please think about this”

However, soon after the DEX launch announcement, the platform had already become the victim of a DDoS attack.

In fact, such attacks aren’t new to the McAfee brand as McAfee Magic also came under a DDoS attack, a month before the platform had officially launched.

If the number of nodes on the McAfee DEX keep growing as time passes, this kind of attack will become increasingly difficult to pull off. The exchange is also built in a way that makes it practically impossible for users to lose money or data from attacks due to the fact that the exchange does not hold custody of any funds or personal information.

McAfee gained much fanfare after he announced the launch of the decentralized exchange running on the Ethereum blockchain a few days ago. In fact, the software entrepreneur had previously hinted at ‘working non-stop for a year,’ in preparation for the launch.

Chayanika is a full-time cryptocurrency journalist at AMBCrypto. A graduate in Political Science and Journalism, her writing is centered around regulation and policy-making regarding the cryptocurrency sector.