Recent reports suggest that Bitcoin is under a Distributed Denial-of-Service (DDoS) attack, forcing prices lower and transaction fees higher. The attack, observers note, is orchestrated through spam inscriptions that are clogging up the network, inconveniencing users.
Bitcoin Is Under Attack?
The so-called spam transactions via the Bitcoin Ordinals platform have prompted many to speculate that this is a DDoS attack.
In a DDoS attack, the malicious actors seek to overwhelm a network or server with traffic from multiple sources, rendering it inaccessible to users. In this case, the target was Bitcoin’s nodes tasked with confirming transactions.
Majority of tx’s are currently just spamming the block space.
They’re all 152.5vb in size transacting precisely 0.00000546 btc.
DDOS test? pic.twitter.com/l9yDTnkuL9
— Andrew (@dAnconiaMining) May 7, 2023
The memory pool, better known as mempool, stores unconfirmed but valid transactions waiting to be processed and remains clogged with trans
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