Swissquote Suffers ‘Massive DDoS Attack’, Finding a Solution

Swissquote, an online trading platform, was the victim of a “massive DDoS attack” yesterday and today.

Tweeting from their Switzerland headquarters, the trading services provider announced that an attack had impacted the accessibility of their platforms and services. They explained that defense triggers from IT systems and internet providers resulted in a decline in service.

A DDoS attack is an internet disruption where traffic from multiple computers bombards the targeted server, service, or network all at once. This interruption in regular traffic can cause delays for certain services. But Swissquote said its systems are working again.

‘Massive Data Volumes’

Swissquote attributed the attack to the high volume of data on its platform and outside triggers. Their media relations manager, Nadja Keller, added that their top priority is their clients’ safety.

Swissquote in 2022

Just a few weeks after gaining access to securities listed on the Dubai Financial Market and launching our SQX crypto exchange, Swissquote has already achieved several key milestones.

Swissquote’s operating revenue declined 23.1% year-over-year in the first half of 2022, coming in at a disappointing CHF 200 million. This is especially difficult to accept as net trading income nosedived by 28% during that same six months.

Despite the challenging environment, Swissquote opened 34,200 new accounts in the first half of 2022, 8,000 of which were non-organic growth.