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Cardano Network Thwarts DDoS Attack Targeting Staked ADA

Cardano Network Thwarts DDoS Attack Targeting Staked ADA

CoineditionCoinedition2024/06/26 09:31
By:Maxwell Mutuma
  • Cardano’s swift developer response effectively mitigated a DDoS attack, ensuring network stability and security.
  • The attack aimed to disrupt Cardano by executing 194 smart contracts per transaction, spending 0.9 ADA each.
  • Developers halted the attack by deregistering the attacker’s stake credential, reclaiming some funds in the process.

Cardano successfully defended against a Distributed Denial of Service (DDoS) attack that targeted staked ADA tokens on Tuesday. Despite the attack, the network remained fully operational.

The DDoS attack aimed to overwhelm the blockchain with spam transactions, in an attempt to disrupt its services. However, a swift response from Cardano developers mitigated the threat.

As highlighted on X platform (formerly Twitter), by Fluid Token chief technology officer @ElRaulito_cnft, the attacker initiated the attack at block 10,487,530, executing 194 smart contracts per transaction and spending 0.9 ADA each. The strategy was to fill blocks with numerous transactions, thereby stressing the network.

Philip Disarro, founder of Cardano development firm Anastasia, quickly identified the issue. He deregistered the stake credential used by the attacker, effectively halting the attack.

Besides thwarting the attack, developers also managed to reclaim some funds from the attacker. Consequently, the network’s robustness was demonstrated as it continued to function without any downtime.

Besides stopping the attack, developers managed to reclaim some funds from the attacker. Consequently, this incident demonstrated the network’s robustness, as it continued to operate without any downtime. The Cardano blockchain’s ability to withstand such an attack underscores its security measures and the efficiency of its development team.

DDoS attacks are popular, where the objective is to overwhelm a targeted website with spam traffic as a means of service interruption. However, the response from Cardano’s team ensured the network remained unaffected.

Furthermore, this incident has brought attention that there is a need to have tighter security measures in place. It also underlines the importance of constant monitoring and appropriate response to such threats.

Cardano/USD 1-day price chart, Source: Trading view

The failed attack did not impact Cardano’s market performance significantly. The live Cardano price today stands at $0.388708 with a 24-hour trading volume of $231,329,020, down just 0.01% in the last 24 hours. While the Relative Strength Index (RSI) reads 38.79, indicating approaching oversold conditions, the Moving Average Convergence Divergence (MACD) suggests potential downward momentum in the short term.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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