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WANTED

<div><a target="_blank" href="https://bitcoinik.com/hollywood-actor-martin-lawrence-sparks-crypto-buzz-with-enthusiastic-support-for-cardano-ada/">Cardano</a> is a popular Proof-of-Stake (PoS) Crypto network that is known for its highly stable potential to fight against network load. Charles Hoskinson is the founder of this crypto blockchain. In 2017, Hoskinson launched Cardano blockchain, following 4 years of hard work. On 25 June 2024, Raul Antonio, CTO of Fluid Tokens, reported a DDoS attack on the Cardano network starting at block 10,487,530. The attacker sent transactions executing 194 “REWARD” smart contracts, spending just 0.9 ADA per transaction to overload the network and attempt to steal staked ADA.<figure><div><blockquote><div>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… <a href="https://t.co/QUVm0pq0Q8" target="_blank">pic.twitter.com/QUVm0pq0Q8</a></div>— elraulito (@ElRaulito_cnft) <a href="https://twitter.com/ElRaulito_cnft/status/1805654707378983353?ref_src=twsrc%5Etfw" target="_blank">June 25, 2024</a></blockquote> </div></figure>The attack failed midway thanks to the swift actions of Philip Disarro, the founder and CEO of Anastasia Labs, a Cardano-focused development platform. Disarro quickly identified the attack strategy and shared an effective countermeasure on X (formerly Twitter). His prompt response played a crucial role in protecting the Cardano network and preventing the attacker from successfully stealing staked ADA. This incident highlights the resilience and quick-thinking of the Cardano community in defending against security threats.The attack stopped after the attacker saw Disarro’s tweet and tried to protect their funds. However, it was too late because Disarro and other developers had already started recovering the stolen ADA.<figure><div><blockquote><div>Update: 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. Thanks for the free money moron. Truly iconic that the attacker who presumably wanted to damage the…</div>— phil (@phil_uplc) <a href="https://twitter.com/phil_uplc/status/1805672403822870776?ref_src=twsrc%5Etfw" target="_blank">June 25, 2024</a></blockquote> </div></figure>Despite the Cardano blockchain functioning normally, some stake pool operators experienced higher loads and slight delays in transaction times, as reported by Intersect, a Cardano membership group.<figure><div><blockquote><div>Update on the spam attack attempted today ⬇️We want to thank the community for quickly mobilizing to help support us in identifying the source of today’s spam attack on the Cardano mainnet. To complement the community effort to resolve the issue, we have coordinated a technical…</div>— Intersect (@IntersectMBO) <a href="https://twitter.com/IntersectMBO/status/1805709955493752880?ref_src=twsrc%5Etfw" target="_blank">June 25, 2024</a></blockquote> </div></figure>Intersect claimed that the attackers were not only planning to steal staked funds; instead, they aimed to halt the Cardano blockchain network.<h2>ADA price action </h2>The current trade price of ADA, a native token of the Cardano blockchain network, is $0.379 &amp; this price is -2.6% down over the last 24 hours. <figure><img src="https://lh7-us.googleusercontent.com/docsz/AD_4nXfcuKzyl-IRTzCPxci0fWOSMUlDKTRc8mb9HG-KctDWoFFockufT81ZSbgkDBbgEmX7xBm2ik_zDjF5oYFF76D1RRaLF2aq6Urf8Scx2FjCRS6dBCSdvkbvERWZk8tzCE16xIKn7i4F5FbX7LWib98ZpgA?key=QWEFU9F8Bg_ElXVa7KGSvg" alt="Cardano Triumphs: Swift Action Thwarts Major DDoS Attack Effortlessly 1" title="Cardano Triumphs: Swift Action Thwarts Major DDoS Attack Effortlessly 1" /></figure>Read also: <a target="_blank" href="https://bitcoinik.com/countdown-begins-eth-spot-etf-trading-approval-by-u-s-securities-regulator-just-7-days-away/">ETH Spot ETF Trading Approval by U.S. Securities Regulator Just 7 Days Away!</a></div>

Bitcoinik

Cardano Triumphs: Swift Action Thwarts Major DDoS Attack Effortlessly

<div>
TL;DR
<ul>
<li>The Cardano blockchain successfully mitigated a DDoS attack without affecting its operation.</li>
<li>The attack was stopped thanks to a vulnerability revealed by a Cardano developer.</li>
<li>The attacker’s funds were redirected to smart contract development projects.</li>
</ul>
<hr />
The Cardano blockchain has once again demonstrated its resilience against malicious attempts to disrupt its operation.
In a DDoS attack that occurred Tuesday night, an attacker attempted to overwhelm the network by executing numerous transactions involving ADA smart contracts.
Each transaction, which cost 0.9 ADA, was designed to fill the blocks and thus stress the network.
The attack was quickly detected by the <a href="https://crypto-economy.com/knowing-cardano-protocol/" target="_blank">Cardano</a> developer community.
Philip Disarro, founder of Anastasia Labs, was the one who found a vulnerability that allowed the attack to be countered.
<blockquote>
Update: 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. 
Thanks for the free money moron. 
Truly iconic that the attacker who presumably wanted to damage the…
— phil (@phil_uplc) <a href="https://twitter.com/phil_uplc/status/1805672403822870776?ref_src=twsrc%5Etfw" target="_blank">June 25, 2024</a></blockquote>
Disarro made this information public, prompting the attacker to stop his actions in an attempt to protect his funds.
However, the redirection of the attacker’s funds was already underway, turning a threat into an unexpected advantage for the Cardano community.
The Cardano network, despite the attempted saturation, did not experience any downtime, maintaining its normal operation and thus demonstrating the robustness of its infrastructure.
This situation highlighted the responsiveness and efficiency of the ADA development team, which was able to act quickly to mitigate the attack.
These types of attacks, known as DDoS, are common in the digital world and seek to flood a server or <a href="https://crypto-economy.com/blockchain-technology/" target="_blank">blockchain</a> with junk traffic to prevent user access to connected services.
In this case, the attacker’s strategy involved executing 194 smart contracts per transaction, thus attempting to maximize the load on the network.
<img src="https://crypto-economy.com/es//wp-content/uploads/sites/4/2024/06/cardano.jpg" alt="Successful Defense: Cardano Blocks DDoS Attack and Secures Staking Tokens" />
<h2>A Thwarted Cardano Attack That Benefits the Ecosystem</h2>
Despite the attacker’s intentions, the outcome of the incident was counterproductive for him and beneficial for the community.
The funds the attacker was trying to protect were taken and will now go towards smart contract development at Anastasia Labs and funding Midgard.
This represents a notable irony: the attacker, in his effort to damage the ecosystem, ended up contributing to its development and strengthening.
The market response was positive, with ADA  increasing its value in the hours after the attack, growing from 0.388 to reach 0.393 cents in Asian markets, according to data from <a href="https://coinmarketcap.com/currencies/cardano/" target="_blank">CoinMarketCap.</a>
This slight rise reflects investors confidence in Cardano‘s ability to handle adverse situations.
The rapid identification and neutralization of the attack underlines the effectiveness of the protocol’s security mechanisms and the diligence of its developer community.
Furthermore, the public disclosure of the vulnerability and the subsequent coordinated response show a high level of transparency and collaboration in the ecosystem.
This incident serves as a reminder that, although threats are always present in the world of cryptocurrencies and blockchain, a united and well-organized community not only serves to resist attacks, but also to turn them into opportunities to improve and strengthen your infrastructure.
</div>

Crypto economy (EN)

Successful Defense: Cardano Blocks DDoS Attack and Secures Staked Tokens - Crypto Economy

<div>
 <a target="_blank" href="https://zycrypto.com/wp-content/uploads/2024/04/Cardano-Founder-Goes-Headfirst-Against-FUD-Amid-Incoming-Chang-Upgrade.jpeg"><img src="https://zycrypto.com/wp-content/uploads/2024/04/Cardano-Founder-Goes-Headfirst-Against-FUD-Amid-Incoming-Chang-Upgrade.jpeg" srcset="https://zycrypto.com/wp-content/uploads/2024/04/Cardano-Founder-Goes-Headfirst-Against-FUD-Amid-Incoming-Chang-Upgrade.jpeg 1200w, https://zycrypto.com/wp-content/uploads/2024/04/Cardano-Founder-Goes-Headfirst-Against-FUD-Amid-Incoming-Chang-Upgrade-300x175.jpeg 300w, https://zycrypto.com/wp-content/uploads/2024/04/Cardano-Founder-Goes-Headfirst-Against-FUD-Amid-Incoming-Chang-Upgrade-1024x597.jpeg 1024w, https://zycrypto.com/wp-content/uploads/2024/04/Cardano-Founder-Goes-Headfirst-Against-FUD-Amid-Incoming-Chang-Upgrade-768x448.jpeg 768w" alt="Cardano Founder Goes Headfirst Against FUD Amid Incoming Chang Upgrade" title="Cardano Founder Goes Headfirst Against FUD Amid Incoming Chang Upgrade" /></a>
The Cardano protocol suffered a DDoS attack on Tuesday as attackers attempted to steal tokens staked on the network. However, Cardano did not face any major chain downtime, and no tokens were stolen.
<h2 id="h-cardano-successfully-mitigates-ddos-attack">Cardano Successfully Mitigates DDoS Attack</h2>
Hacks and related attacks are not unusual in the crypto industry. While many Layer 1 networks, including Solana, have suffered multiple distributed denial of service (DDoS) attacks, Cardano has displayed a very unique characteristic.
Fluid Token CTO “ElRaulito_cnft” revealed in a June 25 <a target="_blank" href="https://x.com/ElRaulito_cnft/status/1805654707378983353">post </a>on X that the attack began block 10,487,530, with each transaction executing 194 smart contracts. The attacker spent 0.9 ADA per transaction and filled each block with several transactions in an attempt to overwhelm the network and slow down transaction throughput.
“The smart contracts used are of type REWARD. In this way, they can send large transactions while spending the least possible amount,” the Fluid Token CTO added.
However, the attack was unsuccessful and thwarted before any damage was incurred. The Cardano network continued to run as usual, without halting or suffering any congestion.Advertisement<a target="_blank" href="https://zycryp.to/GoogleNews"><img src="https://zycrypto.com/wp-content/uploads/2022/01/Follow-ZyCrypto-On-Google-News-1.png" alt="Follow ZyCrypto On Google News" /></a>
 
The founder and CEO of Cardano development company Anastasia, Philip Disarro, <a target="_blank" href="https://x.com/phil_uplc/status/1805653337976504428">said </a>the DDoS attack could be stopped instantly by deregistering the stake credential used by the attacker. The attack was stopped shortly after Disarro’s post.
“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,” he said, <a target="_blank" href="https://x.com/phil_uplc/status/1805672403822870776">adding</a>:
“Truly iconic that the attacker who presumably wanted to damage the ecosystem actually ended up donating to the open-source smart contract development work we do at AnastasiaLabs &amp; funding Midgard.”
<figure><div>
<blockquote><div>Update: 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. Thanks for the free money moron. Truly iconic that the attacker who presumably wanted to damage the…</div>— phil (@phil_uplc) <a target="_blank" href="https://twitter.com/phil_uplc/status/1805672403822870776?ref_src=twsrc%5Etfw">June 25, 2024</a></blockquote>
</div></figure>
According to CoinGecko data, the ADA price is just above $0.39 at the time of writing, having gained 0.44% in the past 24 hours.
<h2 id="h-cardano-is-on-track-for-voltaire-upgrade-this-month">Cardano Is On Track For Voltaire Upgrade This Month</h2>
Cardano is currently preparing for a significant milestone this month as the unsuccessful DDoS attack boosts investor confidence in the blockchain. As previously covered by <a target="_blank" href="https://zycrypto.com/hoskinson-announces-cardano-game-changer-days-after-blasting-anti-ada-media-coverage/">ZyCrypto</a>, the much-anticipated software update, Cardano Node 9.0, is set to ship this month, making it ready for the Chang hard fork to <a target="_blank" href="https://zycrypto.com/governance-is-not-optional-asserts-charles-hoskinson-as-cardano-nears-voltaire-phase/">enter the Voltaire era</a>.
Once Cardano switches from the current Basho era to Voltaire, the blockchain will no longer be actively managed by Cardano development firm IOHK, but will instead be completely run by community members.
With Cardano successfully mitigating the Tuesday attack, supporters remain confident the seven-year-old blockchain is ready for the imminent major leap to become a wholly decentralized blockchain ecosystem.
 </div>

Zycrypto

Cardano Hit With Massive DDoS Attack, But Network Remains Unfazed As Chang Hard Fork Nears

DISCLAIMER: This article is a SPONSORED Press Release and does not constitute Finbold's editorial content. Crypto assets/products involve significant risks. Do not invest unless you are prepared to lose your entire investment. For a full disclaimer, please <a target="_blank" href="https://finbold.com/leading-experts-call-cardano-ada-and-ethereum-classic-etc-dead-horses-get-this-erc-20-token-instead-for-high-gains/#disclaimer">click here</a>.<div>
 Forbes recently listed Cardano (ADA) and Ethereum Classic (ETC) as Zombie chains, while Cardano (ADA) co-founder Charles Hoskinson previously called Ethereum Classic (ETC) a dead horse.
Here we analyze these claims and also look into a new token and project built on Ethereum, that is attracting a lot of positive attention for its high functionality.
<h2 id="h-cardano-ada-a-dead-horse-or-a-sleeping-giant">Cardano (ADA) – a dead horse or a sleeping giant?</h2>
Cardano (ADA) is one of those love-it-or-hate-it chains. Many were entranced by Hoskinson’s lofty goals – to use Cardano (ADA) to increase social justice, and reduce corruption and global inequality. And this was given credence by the number of academics who collaborated with Cardano (ADA).
Whether Hoskinson’s intentions were genuine or not, the fact is that in the crypto world, time moves ten times as fast as in other industries. Cardano’s whitepaper was written in 2016. But rather than starting development, the team went deep into research.
The result is a chain that is way behind others in terms of protocols, functionality, users, and money generated.
According to DefiLama, Cardano (ADA) had just 29,000 active addresses in the last 24 hours. Compare that to newer chains such as Arbitrum or Solana, which both had around 1 million active addresses in the same time frame.
On the plus side, an expert from TheCoinRepublic.com analyzed Cardano (ADA) using the NVT ratio (Network Value to Transactions). This metric is similar to P/E (Price to Earnings ratio) in stocks, and looks at fees each chain generates, in comparison to the value. Cardano (ADA) scores well by this metric, while Ethereum Classic (ETC) does not.
<h2 id="h-ethereum-classic-etc-generates-no-real-revenue">Ethereum Classic (ETC) generates no real revenue</h2>
Charles Hoskinson is not a big fan of Ethereum Classic (ETC), and has called it a ‘dead horse’ and a ‘scam’. 
Before co-founding Cardano, Hoskinson worked on Ethereum with Vitalik Buterin. However, conflicts led Hoskinson to leave the team and set up Cardano.
Ethereum Classic (ETC) came about as a result of a hard fork of Ethereum, when the original chain’s DAO got exploited for $60 million worth of Ether (ETH). Most of the community wanted to roll back the chain to undo the hack, but purists disagreed, arguing for the immutability of the blockchain. 
And so Ethereum Classic (ETC) was born.
Currently, the chain has almost no development or usage. This is demonstrated well by the NVT ratio of Ethereum Classic (ETC). It shows that while Ethereum Classic (ETC) has a market capitalization of $3.5 billion, it generates an average of 15 ETC in revenue per week. 
That’s a mere $359 at today’s prices.
What Ethereum Classic and Cardano seem to have in common is a commitment to an ethical standpoint, without following through on their promises. This leaves them with little to no functionality, supporting the idea that they are ‘dead horse’ chains.
Let’s compare this to a new bullish ERC-20 token in presale, built with functionality in mind – DTX Exchange.
<h2 id="h-dtx-exchange-is-alive-and-kicking">DTX Exchange is alive and kicking</h2>
<a href="https://dtxexchange.com/?utm_source=finbold&amp;utm_medium=Lou&amp;utm_campaign=00" target="_blank">DTX Exchange</a> is a hybrid model trading platform in the making. The team behind DTX aims to increase financial inclusion and access to different asset classes, from crypto to traditional financial instruments such as stocks, bonds, CFDs, derivatives, and synthetic assets such as precious metals.
They want to make things easy for both experienced and newer traders. And so DTX offers everything from social trading and copy trading to automated trading bots and detailed onchain analytics.
So how is that different from existing products? 
<div>Right now there is nowhere you can go to get all of these things. Traditional brokerages such as IG and Etoro offer some of these features but are centralized. This means that many people are excluded from trading due to regulatory issues.  And it also raises questions about security.On DTX Exchange people can be anonymous as no KYC is needed, and minimal personal data is collected so that in the unlikely event of a breach, sensitive details cannot be revealed.</div>
As DTX is still in presale, there is an opportunity for huge gains. 
DTX is currently up by 200% from its initial price of $0.02, now at $0.04. With a minimum launch price of $0.12, and the potential to 100x from there due to its innovative concept, DTX is the place for those looking for massive ROIs that won’t be found in Ethereum Classic (ETC) or Cardano (ADA) any time soon.
<a href="https://dtxexchange.com/?utm_source=finbold&amp;utm_medium=Lou&amp;utm_campaign=00" target="_blank">Visit their Presale</a> </div>

Finbold

Leading Experts Call Cardano (ADA) and Ethereum Classic (ETC) Dead Horses, Get This ERC-20 Token Instead for High Gains

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