Iran’s Leading FX Website Goes Offline Amid Cyber Attacks and Currency Woes
Iran’s top foreign exchange site has shut down due to cyber attacks, raising concerns during a currency crisis
Iran, Rial, Cyber Attacks, Bonbast, Currency Crisis
Tehran: So, you heard about that big news, right? Iran’s main site for tracking the rial’s exchange rate, Bonbast.com, just went offline. They had to shut it down because of some nasty cyber attacks. It all started after the head of the central bank, Mohammad Reza Farzin, made some critical comments.
Apparently, the site faced some serious distributed denial-of-service (DDoS) attacks. That’s when hackers flood a website with traffic to knock it out. A rep for Bonbast said they had to take it down for the safety of their families and colleagues. They didn’t want to share their names or where they were based, though.
This shutdown is a big deal for people in Iran. It’s a key source of info for traders and everyday folks trying to keep up with the rial’s value. The rial has been hitting record lows against the US dollar, and this situation isn’t helping. The government has different official rates, which makes things even trickier.
Since last September, the rial has been on a downward spiral. Analysts think it’s partly because of Iran’s struggles with conflicts and the impact of US sanctions. Plus, lower oil prices aren’t doing them any favors either.
Last week, Farzin claimed that Bonbast was sending out “unrealistic signals” to the market. He said they were using servers in the US, which didn’t sit well with him. But the Bonbast rep didn’t want to comment on that. It’s a pretty wild situation over there!
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