Ethereum: Who and why spammed the Bitcoin Cash mempool?

The Great Bitcoin Cash Mempool Heist: Who’s Behind the Surge and Why

Over the past 24 hours, Bitcoin Cash (BCH) has seen a significant surge in low- or no-fee transactions on its mempool. The graph often resembles Bitcoin (BTC), but with an addition. As we investigated this phenomenon, it became clear that there was a specific group behind the surge.

Rise of Spammers

A closer look at mempool data reveals a clear pattern of behavior by spammers and malicious actors. These individuals are flooding the BCH mempool with low- or no-fee transactions, often at times when the network is already congested. This strategy aims to take away transaction fees from legitimate users, making it difficult for them to send funds.

Why Spammers?

There are several reasons why these spammers are targeting BCH:

• Low Transaction Fees: As mentioned earlier, low- or no-fee transactions have flooded the mempool. These fees are designed to encourage legitimate users to participate in the network by offering incentives to use lower fees.

• High network congestion: The current high demand for Bitcoin Cash has led to increased congestion on its chain. Spammers are exploiting this to extort fees from users, making it easier for them to launch future attacks.

• Lack of security measures

  

  : Unlike Bitcoin, which has implemented various security measures to prevent spam, BCH’s transaction fees are not as high. This allows spammers to exploit network vulnerabilities.

Ripple effect

As a result of these malicious activities, legitimate users have their transaction fees significantly reduced or even emptied from their wallets. This can lead to:

• Financial losses: Spammers can drain large amounts of funds from their wallets, resulting in significant financial losses for individuals and businesses.

• Network Instability: Excessive spamming can destabilize the BCH network, leading to increased congestion and reduced transaction speeds.

Impact

As spammers continue to exploit the BCH mempool, the consequences will be far-reaching:

• Loss of Trust: Bitcoin Cash’s reputation is at risk due to these malicious activities.

• Reduced Adoption: As users become aware of the issue, they may decide not to participate in the network or use it for certain transactions, leading to reduced adoption.

Fighting Spam

To combat this issue, BCH developers and community members are working together to:

• Improve Transaction Fees: Improving security measures on the Bitcoin Cash chain will increase transaction fees, making it more difficult for spammers to exploit the network.

• Increase Surveillance

  : Regularly monitoring mempool data will help identify and prevent unwanted activity.

In conclusion, the recent surge in low- or no-fee transactions on the BCH mempool is largely attributed to malicious actors targeting the network. By understanding the motives behind these attacks and taking steps to improve the security of the Bitcoin Cash chain, we can work towards creating a safer and more trusted cryptocurrency ecosystem.

Blockchain Scalability Risk Management Order