Ethereum Loses $15M Overnight
MorozkiArt
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A powerful spam attack on the Ethereum network, which happened in June, cost the company about $15 million a day. This was stated by the founder of the platform Vitalik Buterin.

WHY IS IT IMPORTANT?

1. The problem of spam in the Ethereum network became apparent after users began to pay attention to the suddenly increased fees with a relatively small number of processed transactions.

2. According to some observations, the network was overloaded with the transactions, made by the contract named IFishYunYu and addressed to FCoin crypto exchange. This contract accounted for about 40% of transactions, and he himself spent almost 50 ETH on the commission within 24 hours.

One of the developers of decentralized applications accused the owners of EOS tokens in organizing the congestion of the Ethereum network through dubious airdrops of random tokens. However, Dan Larimer the developer of EOS denied these charges, saying that the role of "spammer" in Ethereum is a well-managed CryptoKitties application. Previously Joseph Lubin, the co-founder of Ethereum said that the project team is focused on building a strong infrastructure, but at the same time they don’t have a task to control the ether prices. Lubin is confident that the cost of the ETH can vary in the rhythm of the market without any interference from its creators.

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