Cardano DDoS Attack Quickly Thwarted; Asset Price Jumps By 7%

• The Cardano blockchain suffered a DDoS attack yesterday
• A Cardano developer stopped the attack and managed to retake some of the attacker's funds
• Following the successful mitigation of the DDoS attack, Cardano's price spiked by 7%

Last night, Cardano successfully defended itself against a distributed denial-of-service (DDoS) attack.

While recent reports claim the attacker's target was the network's staking pools, a Cardano developer recently announced service disruption as the attack's main goal.

DDoS attacks try to disrupt a website or network's services through overwhelming traffic or requests, forcing it to shut down.

However, the blockchain mounted a successful defense and retaliated against the attacker, boosting investor confidence and raising the asset's price.

Cardano Developer Flips Hacker's Plan On Its Head

While trying to overload the blockchain, the attacker targeted Cardano's block 10,487,530, executing 194 smart contracts, which cost him 0.9 $ADA (0.35$) per transaction.

He crammed several transactions into every block, hoping to shut Cardano down by overwhelming its servers.

On Block 10,487,530, an attack on the Cardano network began.

Each transaction executes 194 smart contracts.
The attacker is spending 0.9 ADA per transaction.
They are filling each block with many of these transactions.
The smart contracts used are of type REWARD.

In... pic.twitter.com/QUVm0pq0Q8

- elraulito (@ElRaulito_cnft) June 25, 2024

Philip Disarro, the founder of Anastasia Labs (Cardano's development firm), posted a solution (deregistering the attacker's stake credentials) on X, which turned the hacker's tactics against them by essentially stealing' the hacker's funds.

Hey, if anyone wants to claim 400 Ada from the attacker just deregister the stake credentials they are using (you get 2 Ada per stake credential you deregister and the attacker is using 194 always succeeds credentials). Also, this would immediately stop their DDOS on the network... https://t.co/hbw8gUpElr

- phil (@phil_uplc) June 25, 2024

According to a Tweet from Disarro, the attack stopped shortly after: 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.'

Despite coming with malicious intentions, the attacker ended up contributing to Anastasia's smart contract development and funding Midgard (its L2 solution).

Cardano's Defense Mechanisms

Cardano's resilience against the DDoS attack comes from its architectural strengths and network enhancements.

The blockchain's recent update by Blinken Labs (docker-cardano-cli v8.24.0.0-1) enhances its stake pool management. It further decentralizes the network by distributing workloads across several nodes and minimizes the impact of targeting a single node.

More nodes strengthen the resilience of networks, protecting against DDoS attacks.

Cardano uses the Ouroboros (its proof-of-stake protocol), backed by stringent mathematical proofs, to enhance blockchain sustainability and security with minimal effort.

Through Ouroboros, Cardano is provably secure against bad actors and Sybil attacks. Every transaction, interaction, and exchange is immutably and transparently recovered, and securely validated using multi-signature and a pioneering extended UTXO model.Cardano

Meanwhile, Anastasia Labs manually reviews, tests, and audits all blockchain applications to ensure their reliability and high security.

Wrap Up

The DDoS attack on Cardano shows the blockchain's strength and adaptability. Instead of a price dump (as is usual with such security threats), its market response was unexpectedly positive(the price soared by 7%).

$ADA's token price is $0.38, its market cap is $13.9B, and Fiery Trading analysts predict a 12,000% rally. Despite a 15.81% drop since last month, Cardano's future looks promising.

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