Sistemkoin Update - Ken DiCross - Co-Founder - Oct 10th, 2018

airwire (38)in #cryptonews • 6 years ago (edited)

Sistemkoin Update - Ken DiCroos - Co-founder statement

As some of our community noticed last night, Sistemkoin was DDOS attacked and caused issues within the exchange. DDOS attacks are relatively common to major exchanges and websites. As a precaution, Sistemkoin started taking buy orders off the market of all coins until the attack was resolved. If you were still logged into Sistemkoin at the time you could witness the buy orders being removed which looked very odd at the time. I was logged in at this time and watching the entire scenario play out in front of me in real time as I was chatting with their customer support. I also recommended to our users who were active at the time to withdraw their tokens from Sistemkoin until everything was clear if they felt the need to do so.

During this situation, it appears someone got nervous as the buy orders was being removed and sold a large quantity of WIRE token down the lower bids that were actively being removed. This caused a our price to sink all the way to 100 Satoshis or $0.006 a token. This was a complete aberration and not indicative of the true value or orders at the time. The chart still reflects the abnormality, hence, my update to the community.

Soon after, Sistemkoin was back to functioning normally and the removed buy orders were reinstated causing our token value to stabilise closer to the trending price from the last few days. I have spoken with Sistemkoin’s support since and they have assured me it was just a temporary attack that they successfully managed.

On a side note, WIRE was listed on Simex yesterday. We will be engaging with Simex’s community along with the regions Simex has strong market penetration to bring awareness to our token, platform, and exchange listings. Sistemkoin is #32 on Coinmarketcap’s Exchange Volume List. Simex is currently #24. As we progress through a long list of upcoming PR’s I think everyone will be extremely happy when we get the to next exchange announcement.

Cheers,

Ken DiCross
Co-Founder

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