During an “anti-cheating” update over the weekend, StepN suffered a DDoS attack of 25 million messages that shut down the StepN’s server for hours, with some users misidentified as bots and kicked from the platform. Posting on Twitter, the StepN development team said: “Our engineers are working hard to fix the problems. We will announce here once recovery is complete. Thank you so much for everyone’s patience!”
The company also apologized for the inconvenience and promised to launch more events in the future to help users earn more money and recover losses.
Despite the DDoS attack, GMT still met with more than 10% growth when trading for the week’s GMT opened. This increase allowed GMT to recoup a third of its 30% drop from late May to June 5. GMT is currently trading at $1.05 per token.
At the end of May, StepN abruptly announced its withdrawal from the Chinese market. On July 15, it will be forced to withdraw completely from the Chinese market. Following the announcement, the price of GMT dropped 37% or $0.8673 per token in minutes. However, according to data from CryptoRank, despite the withdrawal from China, Stepn’s (GMT) active user base has been steadily increasing since the beginning of the year. In May alone, this figure increased by 192%.
Going back to the attack, the development team announced that the situation is under control and that server protection and recovery can take from 1 to 12 hours. However, no updates have been posted as of the time of writing.
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