Funding Pips Says Tradelocker Was Hit By DDoS Attack
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Becoming popular in the prop trading industry brings big risks. The company behind the TradeLocker trading platform, which has become popular in the prop trading area recently, Funding Pips, found this out the hard way.
According to details from TradeLocker, the platform was hit by a DDoS attack during a recent trading session. As a result, the website was inactive for more than an hour. It has affected both investors and clients of brokers and other pop trading companies.
Funding Pips Aim To Provide A Stable And Reliable Trading Platform
News started circulating that TradeLocker might have been targeted by a DDoS attack after clients of proprietary trading firms using this platform started experiencing difficulties accessing their accounts.
Following the recent controversies with MetaQuotes’ MetaTrader 4 and 5, numerous brokers switched to TradeLocker, aiming to maintain their service offerings to clients, including those in the US.
Among the companies that moved were TopTier Trader, Funding Traders, and the largest one, Funding Pips. According to details shared by the latter, the platform was not accessible for over an hour.
The Chief Executive Officer of Funding Pips, Khaled Ayesh, highlighted that the problem wasn’t something they could manage and he accepted complete blame for the situation. Unfortunately, the team doesn’t have any information from when the platform was down, he added.
Funding Pips Is Adding Extra Security Measures To Prevent Attacks In The Future
Ayesh further stated that the firm had the equity level before and after the problem, which will be used to fix the affected accounts.
Shortly after, he posted on X that TradeLocker probably got hit by two DDoS attacks. He replied to the criticism over the platform’s failure, stating that the team is working very hard to restore every trading aspect of the platform.
TradeLocker took a while before they confirmed the news about being attacked by a DDoS, and such confirmation only came a day later.
Moreover, the platform decided to add extra safety measures to prevent future attacks or problems. This means users might see a few more human verification checks when using it.
Furthermore, it’s important to remember that Funding Pips was among the first prop trading companies to halt its activities in February. This happened after Blackbull Markets ended its agreement with the prop trading company because MetaQuotes pressured the broker into doing so.
A week later, the company bounced back swiftly by moving to the Match-Trader platform. In early March, the firm told traders in the US to keep an eye out for a big move. This move turned out to be the integration of the TradeLocker platform.
