The Solana Foundation says bots spammed the Grape Protocol IDO on Raydium with 400,000 transactions per second, bringing the network to its knees.
Solana has attributed the 17-hour outage it suffered last week to a denial-of-service attack aimed at Grape Protocol’s Sept. 14 initial DEX offering (IDO).
In a Sept. 21 blog post, the Solana Foundation stated that bots spammed the network as Grape launched its IDO on the Solana-based decentralized exchange (DEX) Raydium at 12:00 UTC last Tuesday.
The botting activity overwhelmed the network with a transaction load of 400,000 per second, with Solana noting that “unbounded growth of the forwarder queues and resource-heavy blocks” resulted in a number of forks being automatically proposed to the network.
The attack caused Solana’s network’s validators to crash after running out of memory. As a result the network went offline for roughly 17 hours during Sept. 14 and Sept. 15.
The recovery was led in collaboration between Solana engineers and more than 1,000 validators, with a hard fork being passed after receiving support from 80% of the network’s active stakers.
This was a coordinated effort by the community, not only in creating a patch, but in getting 80% of the network to come to consensus.
The foundation estimates that the network was patched, upgraded, and restored to full functionality within 18 hours of Solana going offline.
The post added that the community is still working on providing a detailed “technical post-mortem and root cause analysis report” that will be released in the coming weeks
The price of Solana (SOL) has performed bearishly since posting an all-time high of $213 on Sept. 9. Since then, SOL has pulled back by 39% to change hands for $129 at the time of writing.
The retracement followed a meteoric couple of months for SOL, with the token surging 565% since trading for $32 on July 31.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.
Recommended Content
Editors’ Picks
Litecoin Price Prediction: LTC tries to retake $100 resistance as miners halt sell-off
Litecoin price grazed 105 mark on Monday, rebounding 22% from the one-month low of $87 recorded during last week’s market crash. On-chain data shows sell pressure among LTC miners has subsided. Is the bottom in?
Bitcoin fails to recover as Metaplanet buys the dip
Bitcoin price struggles around $95,000 after erasing gains from Friday’s relief rally over the weekend. Bitcoin’s weekly price chart posts the first major decline since President-elect Donald Trump’s win in November.
SEC Commissioner Hester Pierce sheds light on Ethereum ETF staking under new administration
In a Friday interview with Coinage, SEC Commissioner Hester Peirce discussed her optimism about upcoming regulatory changes as the agency transitions to new leadership under President Trump’s pick for new Chair, Paul Atkins.
Bitcoin dives 3% from its recent all-time high, is this the cycle top?
Bitcoin investors panicked after the Fed's hawkish rate cut decision, hitting the market with high selling pressure. Bitcoin's four-year market cycle pattern indicates that the recent correction could be temporary.
Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy
Bitcoin price has surged more than 140% in 2024, reaching the $100K milestone in early December. The rally was driven by the launch of Bitcoin Spot ETFs in January and the reduced supply following the fourth halving event in April.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.