OVERVIEW

Cardano DDOS Attack Fails Spectacularly 

Two steps forward, one step back, two steps forward, then tripped on a crack. That’s how this market feels. Long-term hodlers are ‘meh’ but short-term traders are ‘ouch’. 😭 

In today’s Litepaper, we’re looking at the epic failure of a DDOS attack on Cardano’s network.

Also on deck: which crypto is leading in RWA tokenization, a big bounty upgrade for one the FBI’s most wanted, and a BTC whale spend $500k on a plane ride. 📰

Before we dive in, here’s today’s crypto market heatmap:

And here’s a look at crypto’s total and altcoin market cap YTD:

CARDANO
Cardano Devs Outsmart DDoS Attacker, Turn Tables on Malicious Attempt 😈

Late yesterday, something weird happened: Cardano ($ADA) suffered a DDOS attack. Except, while it was happening, no one noticed anything. No one cared. What happened?

Let’s just say that the attacker had about as much fun as someone falling down a staircase filled with used syringes. 💉 

Fluid Tokens’ CTO Antonio spelled out the attack on X, revealing the attacker’s tactic of cramming blocks with cheap, high-volume transactions.

But before this joker could do any real damage, Philip Disarro, CEO of Anastasia Labs, stepped in. Disarro not only spotted the attack but also shared the ultimate hack-back move publicly.

Disarro’s counter? Deregister the stake credentials the attacker used, which would stop the DDoS and cost the attacker more ADA to reboot their scheme. 💵 

Cue The Epic Fail

The attacker spent roughly $250 every hour to try and clog the Cardano network. However, the network is built to handle large volumes and shrugged off the attack. Validators processed the spammy scripts without breaking a sweat, and the attack sputtered out. 😆 

Despite the network carrying on like a champ, some stake pool operators (SPOs) did report minor slowdowns in transaction timings and chain density. Intersect, a Cardano membership group, noted the increased load but assured everyone that the chain was functioning as expected.

As of today, no further DDOS attacks have been recorded and the network keeps churning. 🧈