Swissquote Confirms ‘Huge DDoS Assault’, Works on Resolution

The target of a DDoS attack is Swissquote.
A DDoS attack was launched against Swissquote, a well-known online financial services firm, on the weekend of August 15–16, 2020. Since the IT security system stopped all threats from getting to its servers, there were no service interruptions as a result of the attack. Additionally, the business’s operational protocols allowed protective triggers to react to hostile attempts right away. Experts at Swissquote replied within an hour, working tirelessly and nonstop to guarantee consumer security without causing any service interruptions. Consequently, the business keeps providing users with access to its online trading platform for stocks listed on the Dubai Financial Market, the cryptocurrency exchange SQX, as well as other goods and services.
Swissquote has made a further commitment to improve its IT security infrastructure in the wake of the event to guarantee that customer safety always comes first. The manager of Swissquote’s media relations, Nadja Keller, stated: “Our providers are back up and running. At Swissquote, customer security comes first and was never in jeopardy. Our operating procedures are constantly revised and subject to continuous examination. The company nevertheless recorded a decrease in the number of new customers year over year in spite of this incidence.
A distributed denial-of-service (DDoS) assault is a malevolent attempt to impede regular network, server, or service operations by flooding the target with website traffic from a collection of compromised and networked computers. Swissquote stated that although its programmes are operating again, there might still be delays for some services.

Swissquote’s operational income for the first half of 2022 decreased by -23.1% compared to the same period last year.
The business made CHF 200 million in net income.
Over the course of the half-year, net trading revenue fell by 28%.
Approximately 34,200 new client accounts were opened in the first half of 2022, with 8,000 of those accounts being non-organic.

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