June 26, 2024 at 12:44 GMTModified date: June 26, 2024 at 12:44 GMT
June 26, 2024 at 12:44 GMT

Failed DDoS attack on Cardano highlights network security

Following the incident, the price of $ADA saw a slight increase of 0.4% over the past 24 hours, trading at $0.39 during Asian morning hours.

Failed DDoS attack on Cardano highlights network security

Late Tuesday, the Cardano blockchain experienced an attempted distributed denial of service (DDoS) attack aimed at stealing tokens staked on the network.

Despite the attempt, the attack was quickly mitigated, allowing the network to continue operating smoothly without any disruption or damage.

DDoS attacks typically involve overwhelming a server or blockchain with excessive traffic to disrupt normal service.

In this case, Fluid Token’s chief technology officer, known as @ElRaulito_cnft on X, reported that the attack started at block 10,487,530.

Each transaction within this attack executed 194 smart contracts. The attacker utilised 0.9 $ADA per transaction and filled each block with multiple transactions, attempting to stress the network and cause a breakdown.

Philip Disarro, the founder of Cardano development firm Anastasia, provided a solution to halt the attack. He explained that the attack could be stopped by deregistering the stake credentials used by the attacker.

Following Disarro’s post, the attack was indeed stopped shortly afterward. “DDOSer halted his attack after reading my tweet in an effort to protect his funds. Alas, they were too late and the pillaging of their funds is already in progress”, he stated.

This swift response prevented any significant impact on the network.

Following the incident, the price of $ADA saw a slight increase of 0.4% over the past 24 hours, trading at $0.39 during Asian morning hours.

This resilience in the face of an attack highlighted the robustness and security of the Cardano blockchain.

Increased visibility & investor attraction 

In other news, Cardano has recently been made accessible on prominent crypto analytics platforms Dex Tools and Dex Screener.

This integration is expected to significantly enhance the blockchain’s visibility and attract new investors. 

The update, announced by a crypto analyst on YouTube, comes at a time of growing interest in Cardano, positioning the platform to gain more attention and investment.

The inclusion of Dex Tools and Dex Screener will provide users with easy access to Cardano’s trade data, enabling them to analyse market trends and make informed investment decisions.

This increased visibility is likely to draw in new investors who may not have been aware of Cardano previously.

Beyond the technical benefits, this move symbolises Cardano’s dedication to improving its ecosystem and offering valuable tools for its community. 

The community and analysts have responded positively to this development, viewing it as a significant step towards increasing Cardano’s adoption and market presence.

The analyst also encouraged viewers to support this initiative by following Dex Tools on social media, emphasising the collective effort within the cryptocurrency community. 

Currently, Cardano is performing well in the market as well, with a 24-hour trading volume of $413,195,632.28. It was trading in the green on its charts at the time of press.

Celebrity endorsement

The blockchain platform is also receiving increased attention and support from Hollywood celebrity Martin Lawrence.

Known for his roles alongside Will Smith in the “Bad Boys” movies, Lawrence has shown growing optimism toward the platform. 

Recently, he expressed his enthusiasm for Cardano’s ecosystem in a social media post, further solidifying his endorsement of the cryptocurrency.

On 23 June, Lawrence shared a video featuring the Cardano song and the blockchain platform’s founder, Charles Hoskinson. 

Accompanied by hashtags related to the project, the post quickly gained traction, garnering nearly 130,000 views on the X platform. Hoskinson responded with a “respect” meme, indicating their positive relationship.

Amid Lawrence’s recent support, Cardano is preparing for a significant milestone: the Chang hard fork. 

Initially announced in late 2022, the long-awaited software update, Cardano Node 9.0, is set to ship this month.

According to Charles Hoskinson, the Chang hard fork will be a groundbreaking event, marking a major milestone for Cardano and the entire blockchain industry.

With the Chang hard fork on the horizon and high-profile celebrity backing, Cardano is poised for significant growth in the cryptocurrency space.