Cardano’s (ADA), network was attacked by a Distributed Denial of Service (DDoS).
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In order to steal cryptocurrency staked in the Blockchain, they intended to do so.
They wanted to overwhelm the ADA system by sending massive spam transactions.
The incident started at block 10487.530 where 194 smart contracts were executed by each transaction.
Hacker spends 0.9 ADA per transfer. File blocks of transactions with huge amounts to overload the blockchain.
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The network was not damaged as the developers were able to mitigate the problem.
Cardano’s blockchain is fully functional and will continue to be so in future times.
Cardano prevents DDoS attacks
Philip Disarro discovered that the problem was a network. He is founder of Anastasia Cardano Development.
Dissaro has deregistered an attacker stake The attacker will be stopped by presenting their credentials.
The developers also recovered some assets that were stolen by the criminal.
Cardano has proven to be robust, with no downtime.
Cardano’s ability to counter such attacks is a testament to its developer’s efficiency and state-of the-art security.
The incident also underscores the necessity of strict security. The attack also highlights the importance of checking blockchain regularly and responding quickly to threats.
Cardano, cyber-attacks and other threats
Cardano may present itself as an extremely reliable network with high security, but it is not without its cyber-threats.
It is good to know that attacks against the ADA platform are rare compared to those on other popular platforms.
Cardano is not the first to have suffered security breaches.
In 2020, fraudsters tried to steal private keys and user funds.
The community and developers quickly identified and eliminated the threats.
Cardano’s peer-reviewed, strict development procedures and research help developers to find and resolve any problem before it causes damage.
In fact, it is hard to imagine a hack that works on the Cardano network.
ADA’s current Price Outlook
Cardano showed strength after the recent event, while hacking events triggered bearish movements in the cryptomarket.
ADA is currently trading at $0.3884, a decrease of 0.53% compared to the last day.
Despite this, it is expected that the alt will continue to drop. continuing its upward moves.
Relative Strength Index of 38.79 indicates imminent oversold condition.
The Moving Average Convergence Differenc indicates possible dips near-term.
Cardano is resilient to cyber threats, as evidenced by its steady performance.
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Source: invezz.com