I almost held a position in Electra on the other small exchange that was trading it known as coinhouse.eu. But I changed my mind when I saw red flags.

This is completely my own theory and opinion and should not be taken as fact.

I believe that Electra coin is a scam and the people behind it used their new found coin wealth to create the coinsmarkets.com trading site. They used a lot of hyp and marketing on Twitter, Youtube, Reddit and their own Telegram chat group to make people believe they were preparing for some kind of technology release.

Their objective has been to steal as much Bitcoin from people as possible by using a mix of the fake exchange and fake tech coin/ fake hype.

The coinhouse.eu another small exchange launched recently, I do believe this is a legitimate exchange and they gave me successful withdrawal on my Bitcoins. However that exchange is very new and obviously still a risk.

Of course it's possible that Coinsmarkets is not a scam and just run by really incompetent developers, in which case it would not have been too difficult for competent hackers to break in and steal all the cryptocurrency. An occurrence that WOULD be consistent with the DDOS attacks suffered by them.

Interestingly.. I believe they had Cloudflare setup to protect the server from DDOS attacks which leads me to believe the DDOS was likely directed towards a non HTTP service running on their server.

Hackers like to DDOS sites while they conduct their attack because it makes it harder for sysadmins to login and stop the attack not to mention they would have got bombarded with customer complaints to deal with at the same time.