Amid the global COVID-19 pandemic and concerns over ongoing quarantines and rising unemployment, more and more people around the world are patently turning to crypto, Russian federation being no exception.

According to data by cybersecurity house Qrator Labs, people in Russia have get increasingly engaged with crypto exchange services amongst the ongoing coronavirus outbreak.

Crypto exchange-related traffic surges v.56% in Russia

Specifically, traffic on crypto exchanges in Russian federation surged 5.56% in the last week of March 2022 in comparison to Feb averages, a study by Qrator Labs reportedly said. Citing information from the study, Russian federation's news agency RBC reported on the news on April xiii.

Equally reported, Qrator Labs linked the surging numbers with the growing interest in currency markets. Additionally, Russian federation'southward traffic on foreign exchange markets has also increased around 3%, the report notes.

The increasing traffic numbers came against the backdrop of Russia'due south commencement paid non-working week, which was originally scheduled from March 28 to April five equally a measure to tackle the coronavirus outbreak. Eventually, Russian President Vladimir Putin extended Russia's nationwide "not-working week" until April thirty.

DDoS attacks on crypto exchanges reportedly jumped 486% in 2022

Alongside a notable surge of crypto exchange-related traffic in Russia, Qrator Labs besides alerted some massive growth of denial-of-service, or DDoS, attacks on cryptocurrency exchanges in 2022. According to Qrator Labs' data, the amount of DDoS attacks on crypto exchange platforms spiked as much every bit 486% in 2022.

Qrator Labs' data on the coronavirus-fueled crypto traffic surge in Russia may add to mounting evidence for the credible positive impact of the pandemic on global crypto markets. As Cointelegraph reported, in March, involvement in buying Bitcoin hit its highest levels since July 2022, according to Google search trends data.

On April 12, Cameron Winklevoss, a co-founder of major crypto exchange Gemini, made another remark regarding the importance of Covid-19 for Bitcoin and its users, claiming that Bitcoin will see a celebrated "inflection point" in its life thank you to coronavirus.

Update April 16: This article was updated to specify that DDoS attacks on crypto exchanges surged 486% in 2022.