The Cardano (ADA-USD) blockchain successfully thwarted a distributed denial of service (DDoS) attack aimed at stealing staked tokens. The attack, which occurred late Tuesday, involved flooding the network with spam transactions to disrupt its operations. However, Cardano’s network continued to operate without any downtime.
Details of the Attack
Fluid Token’s chief technology officer, @ElRaulito_cnft, highlighted the specifics of the attack on X. The attack began at block 10,487,530, with each transaction executing 194 smart contracts. The attacker spent 0.9 ADA per transaction, attempting to stress the network by filling each block with numerous transactions.
Philip Disarro, founder of Cardano development firm Anastasia, identified a vulnerability and revealed that the attack could be stopped by deregistering the stake credential used by the attacker. Following Disarro’s post, the attacker halted the DDoS attempt to protect their funds. However, it was too late, and some of the attacker’s funds were already compromised.
Cardano’s History with Cyber Attacks
While Cardano is generally seen as a strong and secure blockchain, it’s not entirely immune to cyber threats. But the good news is, significant attacks on Cardano have been relatively rare compared to other major blockchains.
In the past, Cardano has dealt with various attempts to exploit its network, though none have caused serious damage. For example, in 2020, there were phishing attempts aimed at Cardano users, trying to steal their private keys and funds. Thankfully, these attacks were quickly addressed by the Cardano community and developers, showing how proactive they are about security.
Cardano’s strict peer-reviewed research and development process ensures that vulnerabilities are identified and fixed before they can be exploited. Plus, the network’s upgrade protocols, like the Shelley upgrade, have been designed with security in mind, making Cardano even more robust against potential attacks.
Impact on ADA’s Price
Despite the attack, Cardano’s native token ADA remained relatively unfazed. The price of ADA was down only 0.4% in the past 24 hours. This resilience showcases the robustness of the Cardano network in the face of cyber threats.
At the time of writing, Cardano’s price is sitting at $0.3896.
Key Takeaway
Cardano’s quick response to the DDoS attack shows just how resilient and secure the network really is. Their track record of handling cyber threats effectively speaks volumes. This incident demonstrates the need for constant monitoring and rapid action to keep blockchain networks safe from hackers. Despite the occasional threat, Cardano continues to stand strong as a secure and reliable blockchain platform.
