thecoinrepublic.com
- As per a report, the Solana network was compromised by another distributed denial of service attack. There have been three attacks on Solana in the previous several months.
- The attack did not lasted long, as the Solana network came back online after almost four hours.
- Solana was downtrending at $171.03 at the time of this writing with a 24 hour negative change of 2.01%.
Solana’s Reunion with DDoS
As per Colin Wu, a major Chinese journalist, the Solana network was compromised on the 4th of January. It was suspected that the hacker leveraged spam to execute a distributed denial of service attack. The Solana network was down for around four hours but went online. A DDoS attack blocks the network through multiple requests to the web resource of the victim, eventually becoming a barrier for the platform and stopping it from operating correctly.
Solana went down again at two o'clock in the morning (UTC+8) on January 4th. According to users of the official Telegram community, the attacker is suspected of using spam to conduct a DDoS attack.
— Wu Blockchain (@WuBlockchain) January 4, 2022
There was no official information regarding the DDoS attack that could confirm the event’s authenticity, disclosed by the Solana Foundation. This was a third attack in the previous 6 months. In addition, many Twitter accounts contended that a huge slowdown was experienced by the Solana network rather than an outage. Members of a Reddit community also addressed the event, where they claim that “vulnerability of the system” is a “death knell for serious traders.”
“Blaming it on attackers is just dishonesty. A well-designed blockchain is not supposed to have attackers, it is supposed to keep producing blocks based on the parameters of the network, not take a break because someone spammed transactions,” says the reddit post.
Solana went down again on 4th Jan morning (UTC +8) , and was fixed early morning. Now it is back up, but shows how vulnerable this system is. A system that goes down is a death knell for serious traders from CryptoCurrency
Technological Sorrows
As it is given that the DDoS attack was not the initial one on the Solana Network, status of Solana delineated that the network had suffered sporadic instability more than 45 minutes back in September 2021.
At this time, validators of Solana were getting ready for the latest launch before getting hit by a 17 hours outage because of the mass bottling activity for an IDO on the decentralized Exchange Raydium, based on the Solana network. No funds were stolen in the event, and the Solana network went functional again, but the event gained some weighty criticisms when the devs turned towards restarting the whole network.
Just after 3 months, a second DDoS attack reportedly came out of nowhere, although the network remained online this time. Even after experiencing some weighty congestion, the co-founder denied that the DDoS attack happened. It was then revealed by SolChicks, an NFT game, that their Chicks NFTs were the reason for the decreased performance of the Solana blockchain.
As of this writing, Solana had a market capitalization of $52.1 Billion and was bearish with a 24 hours low of 2.01%, where the price was standing at $171.03. Back in November 2021, Solana saw its all time high of $260, but is down since the peak.