Ripple-backed network XRP Ledger (XRPL) is experiencing a surge in network activity described as a distributed denial-of-service (DDOS) attack by Magnetic X, a decentralized exchange based on the network.
According to the DEX, the network has been hit with a massive spike in daily transactions from hundreds of accounts, disrupting its functionality and impeding its speed. Notably, since Dec. 28, the network has seen an average of 5 million transactions and the attackers are burning as much as 5000 XRP in network fees daily.
“[The attacker] strategy is simple: hundreds (maybe thousands) of different wallets are sending 0.000001 XRP to this wallet: rxRpSNb1VktvzBz8JF2oJC6qaww6RZ7Lw. It is unclear what their motive is. Whether Ripple themselves are testing their blockchain or ill-wishers decided to bring down the network,” Magnetic X added.
A look at the wallet on the XRP blockchain explorer platform Bithomp showed that it has been tagged as fraudulent, and the wallet continues to rec
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