Cardano’s network recently faced a distributed denial of service (DDoS) attack aimed at exploiting its staking mechanism to steal ADA. The attack began on June 25th at block 10,487,530, with each transaction involving 194 smart contracts and costing the attacker 0.9 ADA per transaction. By flooding the network with these transactions, the attacker intended to send large transactions while minimizing costs.
Philip Disarro, founder of Cardano development firm Anastasia, identified a solution to stop the attack by deregistering the attacker’s stake credential. This measure effectively halted the attack, although it had already significantly depleted the attacker’s funds.
The aftermath saw a notable increase in Cardano’s development activity. From June 23rd to 24th, activity spiked from 160 to over 180, eventually reaching 190—the highest in over a month. This surge was driven by the developer community’s response to the attempted hack.
Despite these efforts, ADA’s price movement remained unimpressive. On June 25th, ADA saw a 3.73% increase, reaching around $0.39, briefly interrupting its downtrend. However, this rise was not enough to sustain an uptrend, and ADA’s price has since slightly declined to approximately $0.38, reflecting a 0.7% decrease.
