The XRP Ledger, known as XRPL, might be facing a continuous and aggressive distributed denial of service (DDoS) attack, indicating a challenging time for the blockchain.
In a recent tweet, Magnetic X, a prominent decentralized exchange (DEX) project on XRPL, shared details about the ongoing attack. The project disclosed that the XRPL has been facing a relentless assault since December 26, 2023. Numerous accounts are reportedly coordinating millions of transactions every day in an apparent effort to disrupt and sabotage the network.
XRPL suffered a massive DDOS attack.
Since December 26, 2023, hundreds of accounts have been making millions of transactions per day to stop the network or at least slow it down.
There has never been such a surge in activity in XRPL.
Since December 28, about 5,000,000… pic.twitter.com/wOTeIyAcwc
— Magnetic X (@MagneticXRPL) January 7, 2024
XRP Ledger Faces Ongoing DDoS Attack: Magnetic X Reports
Magnetic X, a prominent decentralized exchange (DEX) project on the XRP Ledger (XRPL), has highlighted the severity of an ongoing distributed denial of service (DDoS) attack. The assault, which began on December 26, 2023, involves hundreds of accounts orchestrating millions of daily transactions with a specific tactic. Attackers are utilizing numerous wallets to send small amounts (0.000001 XRP) to a particular target wallet, identified as fraudulent by XRP blockchain explorer services like XRPScap and Bithomp.
The motive behind these continuous transactions remains unclear, with speculation ranging from an internal stress test to malicious entities attempting to disrupt the XRPL network. Regardless of the motive, the consequences are significant for regular network users and development teams.
Magnetic X, as a leading DEX project on XRPL, has not been immune to the impact of the attack. The assault has rendered its applications incapable of retrieving transaction history and subscribing to network transaction updates. This disruption occurred as network nodes became overwhelmed, leading to a slowdown in operations. However, Magnetic X has taken measures to address the situation, including optimizing its code, adjusting node configurations, and securing additional resources.
Concerns Rise Over XRPL’s Transaction Capacity Amid DDoS Attack Fallout
Amidst the ongoing distributed denial of service (DDoS) attack on the XRP Ledger (XRPL), the decentralized exchange (DEX) on XRPL has raised a critical concern regarding the network’s ability to handle increased transaction loads. The DEX highlighted issues occurring at 60-70 transactions per second, casting doubt on the widely acclaimed 1500 transactions per second (TPS) capacity.
This development has sparked worries about the fate of public nodes and those with limited capacities within the XRPL network. The surge in XRPL transaction count was previously linked to the rise of fake inscriptions, putting significant strain on the network’s processing power.
Mayukha Vadari, a senior software engineer at RippleX, offered clarification on the situation, asserting that it wasn’t a deliberate attack but rather a surge in activity driven by inscription-focused transactions. Members of the community echoed this sentiment, with user Guust Flater emphasizing that the observed increase in transactions resulted from the open-source nature of XRPL.
Guust Flater further advocated for XRPL’s resilience in handling elevated transaction activity, suggesting that stress-testing the network should be permitted if individuals or entities choose to do so.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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