One and the same address is sending and receiving transactions consuming most of the resources

The Ethereum network is once again undergoing what looks like a spam attack. GAS is an internal Ethereum currency that is used today miners for handled transactions.

Last year, the same activity was linked to airdrops or other project-related transactions, this time, the usage looks like outright spam, which was also reflected in the comments on Etherscan. One of the users studied transactions and noticed frequently repeated wallet addresses. According to him, it’s a botted ring wallet system that owns around 150-200 thousands ETH. Bots transfer random amount of ETH from one address to another that’s why they are hard to identify in cloud chain.

The estimated cost of today’s attack is around $20,000. The cost of fact transactions went up insignificantly as well. The fees increase has a direct impact on all blockchain users.

It remains unknown who is behind this spam attack. The issue of fake network loads and transaction counts is creating a false impression of activity in the crypto space, where in fact some projects are barely used. Even Bitcoin payments remain a niche activity. Exchanges have also used faked volumes to boost their visibility and invite new users.