Magnetic X, a top decentralized exchange on the XRP Ledger (XRPL), has successfully repelled a recent distributed denial-of-service (DDoS) attack, according to a Monday announcement.
According to the exchange, the DDoS attacker wanted a ransom payment of several thousand Tether (USDT). However, instead of paying the ransom, the exchange chose to "expand and upgrade" its system.
The DEX says that its services have been reconfigured and scaled in order to handle "millions of requests."
Earlier today, Magenic X announced that it was facing a DDoS attack. It warned users that the website was unstable.
Dan BurginBack in January, it also sounded the alarm over a "massive" DDoS attack that took place on the XRP Ledger, with hundreds of accounts making millions of transactions. The project was also affected by the attack, with some of its applications not being able to retrieve transaction history due to nodes being overloaded.
Magnetic DEX is an interface that makes it possible to interact with the XRP Ledger DEX.
It is worth noting that the XRP Ledger is believed to have the oldest decentralized exchange. Its DEX has been operational since 2012.
Magnetic DEX allows users to place orders in a convenient way after connecting their wallet.
Apart from the decentralized exchange interface, Magenic X offers such functionality as automated market maker (AMM) pools, yield farming, and NFT creation.
According to data provided by DappRadar, Magenic is the leading app on the XRP Ledger. It is ahead of XPmarekt, First Ledger, xrp.cafe, Sologenic, and onXRP.
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Yuri Molchan
Tomiwabold Olajide
Dan Burgin
Vladislav Sopov