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'Move-to-Earn' App STEPN Experiencing Multiple Cyber Attacks Following Upgrade
Summary: STEPN, a “move-to-earn” application on the Solana blockchain that gives users cryptocurrency rewards to moving, in the form of walking, jogging and running, suffered multiple distributed denial of service (DDOS) attacks following the June 3 “anti-cheating” upgrade. STEPN took to Twitter on Sunday to announce the recent attacks, tweeting, “Securing the servers and recovery may ...
STEPN, a “move-to-earn” application on the Solana blockchain that gives users cryptocurrency rewards to moving, in the form of walking, jogging and running, suffered multiple distributed denial of service (DDOS) attacks following the June 3 “anti-cheating” upgrade.
STEPN took to Twitter on Sunday to announce the recent attacks, tweeting, “Securing the servers and recovery may take anywhere from 1 to 12 hours.” Well, we are now more than 24 hours later without an update.
The outage follows an “anti-cheating” upgrade STEPN performed on June 3, which aimed to eliminate GPS spoofing, motion simulation and multimining (using multiple phones at once). The upgrade that took STEPN three months of intense development will ensure the ecosystem that everyone competing is doing so ethically.
STEPN is a fitness app that rewards users for walking, jogging and running. In order to use the app, users must purchase virtual shoes in the form of a non-fungible token (NFT). The prices for these sneakers are sold in Solana (SOL) and start around eight Solana worth about $336. Here is a look at some of the shoes users can purchase from OpenSea.
In addition, this hack comes a couple of weeks after STEPN announced they will block geolocation services for users in mainland China starting from mid-summer. As a result of this announcement their native coin, GMT, dropped by more than 40%. It has since recovered some of those losses to currently sit at $0.9990, according to Bitpush Terminal data.
Despite the recent news, STEPN, is up a little over 5% in the last 24 hours. This recent uptrend could be a result of STEPN's conversation with Barndog_Solana on Monday, who is a proud ambassador for STEPN.
STEPN, is an Australian move2earn game founded in the second half of last year by the fintech studio Find Satoshi Lab. In the beginning of this year, STEPN raised $5 million in a funding round led by venture capital firm M13. In March, STEPN was released on Binance and in April, Binance Labs invested in the company. STEPN is still in its infancy and thus very much affected by the overall market and day-to-day changes within the company.
Author: Tyler Irvin
Tags: GMT,Stepn
Link: 'Move-to-Earn' App STEPN Experiencing Multiple Cyber Attacks Following Upgrade [Copy]
