Over the weekend, proprietary trading firm E8 Markets fell victim to a Distributed Denial-of-Service (DDoS) attack, causing significant disruptions for traders. The attack rendered the firm's website and trading platform inaccessible for nearly 48 hours, preventing users from managing their accounts or executing trades. Despite efforts to restore services, some traders reported access issues even after the financial markets reopened on Monday.

E8 Markets Hit by Cyber Attack

E8 Markets officially acknowledged the attack on Saturday, confirming that it had been facing "a DDoS attack since Friday." The firm's security team worked diligently to mitigate the impact and reinforce protective measures against potential future threats.

However, the firm's website remained down throughout Saturday, leaving many traders in the dark regarding the status of their accounts. In a statement, E8 Markets assured clients that security audits were underway to assess the integrity of their systems and that additional measures were being taken to prevent further incidents.

“While our initial assessments show no signs of any issues beyond the attack itself, we are conducting thorough audits to guarantee 100% system integrity before fully restoring access to the dashboard,” the company stated.

As of February 22, E8 Markets had not issued further updates on its X (formerly Twitter) account. Reports from traders on Sunday and early Monday indicated that access to both the website and trading platform was still restricted.

How DDoS Attacks Disrupt Online Trading

A Distributed Denial-of-Service (DDoS) attack overwhelms a targeted system by flooding it with excessive traffic from multiple compromised devices. This can result in prolonged downtime, preventing legitimate users from accessing the service. Cybercriminals launch such attacks for various reasons, including extortion, competitive disruption, or simple chaos.

To combat DDoS threats, firms implement advanced cybersecurity measures such as traffic filtering, multi-server distribution, and real-time monitoring. However, even with strong defenses, well-coordinated attacks can cause temporary service outages.

Looking Ahead

As the prop trading industry continues to grow, firms must invest in robust cybersecurity infrastructures to protect their platforms and traders. The E8 Markets attack underscores the importance of constant vigilance, real-time threat monitoring, and proactive communication with clients during disruptions.

Traders are advised to stay updated on official announcements from E8 Markets regarding account access restoration and security enhancements.

Stay tuned to PropInsider for the latest developments in proprietary trading and fintech security.

‍