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FTX Restricts Users to ‘Post Only’ as Cloudflare Faces Outage

Some users of FTX and Bitmex may be unable to access their accounts as Cloudflare (NYSE:NET) faces issues. FTX consequently restricted its users to post-only mode. In April,...
FTX Restricts Users to ‘Post Only’ as Cloudflare Faces Outage © Reuters FTX Restricts Users to ‘Post Only’ as Cloudflare Faces Outage

  • Some users of FTX and Bitmex may be unable to access their accounts as Cloudflare (NYSE:NET) faces issues.
  • FTX consequently restricted its users to post-only mode.
  • In April, Cloudflare detected and foiled a 15.3 million request per second DDoS attack on a crypto launchpad.

Major crypto exchanges are down and inaccessible to some users due to server-side problems Cloudflare is experiencing. FTX and Bitmex are part of the affected exchanges. FTX consequently restricted its users to post-only mode.

Post-only mode means that traders can only place an order if it would go to the order book as a maker order. Otherwise, the order declines. The implication is that users will have no access to other order types such as stop-loss, take profit, and trailing stop.

Twitter (NYSE:TWTR) user @haxpor argued that “it doesn’t make sense” for FTX to take such limiting action. His words:

RIP stop-loss. It doesn’t make sense much to prevent access to a market order, but still, another is possible. Maybe the exchange tries to slow down trades across the board, buying time to do something.

Bitmex, on the other hand, didn’t make any trade restrictions on its users. They only said some users might be unable to access the website and API, though funds remain safe.

Cloudflare, Inc. is a content delivery network and distributed denial-of-service (DDoS) mitigation company. A DDoS attack is a malicious attempt to disrupt the regular traffic of a server by overwhelming its infrastructure with superfluous requests. It is similar to a group of people crowding the entry door of a store, preventing legitimate customers from shopping.

On April 27, 2022, Cloudflare reported that they detected and foiled a 15.3 million request per second DDoS attack on a crypto launchpad. The attack represents one of the largest HTTPS DDoS attacks on record.

Continue reading on CoinQuora

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07-07-2022 22:48:37 (UTC+7)

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1.0161

-0.0020 (-0.20%)

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EUR/USD

1.0161

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USD/JPY

135.95

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0.6828

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Summary

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1.2980

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EUR/JPY

138.13

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 EUR/USD1.0161Neutral
 GBP/USD1.1998Neutral
 USD/JPY135.95↑ Buy
 AUD/USD0.6828Sell
 USD/CAD1.2980Neutral
 EUR/JPY138.13Buy
 EUR/CHF0.9883Neutral
 Gold1,739.80Sell
 Silver19.218↑ Sell
 Copper3.5285↑ Sell
 Crude Oil WTI104.39↑ Buy
 Brent Oil106.28↑ Buy
 Natural Gas6.223Buy
 US Coffee C218.70↑ Sell
 Euro Stoxx 503,488.55↑ Sell
 S&P 5003,890.24↑ Buy
 DAX12,841.94Neutral
 FTSE 1007,186.40↑ Sell
 Hang Seng21,643.58↑ Buy
 Small Cap 20001,764.30↑ Buy
 IBEX 358,120.23Neutral
 BASF41.318↑ Buy
 Bayer56.56Sell
 Allianz179.00↑ Buy
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 Lufthansa5.760↑ Buy
 Siemens AG97.84↑ Buy
 Deutsche Bank AG7.970↑ Sell
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SJC Eximbank6,765/ 6,825
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Cập nhật 07-07-2022 22:48:39
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Ngoại tệMua vàoBán ra
USD23.180,0023.490,00
EUR23.177,9524.476,02
GBP27.204,7528.365,03
JPY166,93176,72
KRW15,5318,93
Cập nhật lúc 18:49:11 07/07/2022
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