Crypto Lending Platform BlockFi Attacked With Flood of Fake, Abusive Sign-Ups

The malicious spree involved offensive language being placed in the first and last name fields on the account registration page.

AccessTimeIconMar 10, 2021 at 9:28 a.m. UTC
Updated May 9, 2023 at 3:16 a.m. UTC

Crypto lending platform BlockFi endured an unusual assault on Sunday afternoon as an attacker spammed the platform with fake sign-ups and abusive language.

According to a report by Forbes on Tuesday, BlockFi's employees were able to identify the incident shortly into the attack that involved "vulgar and racist" language being placed in the first and last name fields on the account registration page.

  • Meme Coin Liquidity Hits Record High
    00:46
    Meme Coin Liquidity Hits Record High
  • How Ledger Stax Plans to Make Self-Custody More Mainstream
    16:42
    How Ledger Stax Plans to Make Self-Custody More Mainstream
  • Why Dogecoin Is a 'Weird' Investment
    16:39
    Why Dogecoin Is a 'Weird' Investment
  • AI Tokens Surge as Nvidia Becomes World’s Most Valuable Company
    00:47
    AI Tokens Surge as Nvidia Becomes World’s Most Valuable Company
  • The accounts were registered using over 1,000 email addresses, half of which were identified as valid and belonging to real users, according to the reporting.

    “I think this spam attack [was] designed to try and create negative sentiment around BlockFi by trying to get emails sent with vulgar language in them," BlockFi CEO and co-founder Zac Prince told Forbes. Possibly 500 emails did get sent before the attack was spotted, he added.

    It isn't the first time BlockFi has suffered a security scare. In May of last year, an attacker got hold of users’ data by compromising an employee’s through a SIM swap attack. No funds were lost in the incident.

    "Hackers have never been successful in penetrating internal company’s systems," said Prince, who compared Sunday's incident to what happened in May as "just shooting lasers at the onion."

    CoinDesk attempted to contact BlockFi, but did not receive a response by press time.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


    Read more about