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The number of Litecoin's active addresses increased in 8 months, surpassing 141k

    Litecoin's chain figures have slowed down after halving their reward (halving) for the second time in August 2019. However, on a positive note, the network's active addresses have increased to the highest in 8 months is 141,676.

    According to the data collected from BitInfoCharts, the number of addresses per day increased from a low of 34,273 on January 1.

    Source: BitInfoCharts

    The operating address metric spiked on August 10, five days after the scheduled halving, one day when it increased to 262,573. Along the way, the number of addresses has dropped, in addition to one case on August 17, 2019 when the number of unique addresses shot up to 125,420.

    Source: BitInfoCharts

    Since then, for the most part, the numbers have dropped, similar to other metrics on the Litecoin network. Interestingly, the average transaction value chart also recorded a slight spike after the aforementioned increase, at press time.

    Dust Attack

    Previously, Bitcoin Magazine reported a strange cyber activity behind the operating addresses of Litecoin, a model that was witnessed on August 20, 2019 after James Jager, team leader at Binance Academy. , first identify the attack.

    The same address, Litecoin.com, Franklyn Richards noted that the number of active addresses skyrocketed to more than 70,000 before abruptly falling, resulting in a saw-like pattern.

    This behavior continued until January and the later part of February this year, with short, three-fold breakthroughs.

    Notably, the total number of transactions that did not record any mutations during the same time period as well as the averages were not sent showed any signs of correlation.

    A dust attack is basically when a crook sends the smallest denominations (1 Litoshi) to the target wallet. Because the amount deposited is quite insignificant, victims often never notice it. That's called term dust. This is done so that whenever target users make their next transaction (even with anonymous tools), small amounts can be monitored by hackers.

    After the hack, the Litecoin Foundation advised users to use different addresses to trade money. Using a VPN to confuse blockchain monitoring tools is also recommended by the Foundation. Moreover, victims of a dust attack can convert all their affected coins into another cryptocurrency to avoid being monitored.

    Zhang Fei

    According to AMBCrypto

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