Cardano network recently faced an attack. The attack was thwarted, and the attacker lost some of their assets.
Cardano [ADA] recently faced a security threat, but its developers successfully repelled the attack. Subsequent analysis of developer activity on the network showed a slight increase, which may be a response to the event.
Despite these efforts and the attention drawn to the event, the price trend of ADA remains relatively unremarkable.
Cardano thwarts attack
The Cardano network experienced a distributed denial-of-service (DDoS) attack on June 25. The attack aimed to steal ADA using the network’s locking mechanism.
According to a detailed post by the Chief Technology Officer of Fluid Token, the attack began at block 10487530. Each transaction executed in this attack involved 194 smart contracts, with the attacker spending 0.9 ADA per transaction.
By using “reward” type smart contracts to fill each block with a large number of such transactions, the attacker was able to send a large volume of transactions while minimizing expenses.
Philip Disarro, the founder of Cardano development company Anastasia, suggested revoking the stake certificates used by the attacker, providing a solution to thwart the attack. The attack ceased after his intervention.
However, Disarro noted that the attacker’s funds had been severely depleted before the attack stopped.
Surge in developer activity on Cardano
Cardano has been recognized as one of the networks with the highest level of development activity, a trend that has become particularly evident in recent years.
An analysis of the trend in development activity indicated a significant increase shortly before the recent attack occurred.
Specifically, the development activity surged from around 160 on June 23 to over 180 on June 24.
As of the latest data, this number has further increased to 190. This level marks the highest level of development activity experienced by Cardano in over a month.
The surge in development activity has been largely influenced by the recent hacker attack, prompting the developer community to intensify its efforts.
ADA struggles through the night
Analysis of Cardano’s price in the daily timeframe chart shows recent fluctuations. According to data from AMBCrypto, on June 25, the price of ADA rose by 3.73% to around $0.39.
Here is the market value of ADA in BTC terms
This increase marked a brief deviation from the previous downward trend. However, this growth is not enough to reverse the upward trend.
At the time of writing, the trading price of ADA is around $0.38, a slight decrease of about 0.7%.