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Theory Of Dusting Attack; How It Can Affect Bitcoin

Crypto World At Your Finger Tips!
Theory Of Dusting Attack; How It Can
Affect Bitcoin?
To measure the success of
Bitcoin, one can rely on to
know about Bitcoin
millionaire stories which
also includes Akshay
Haldipur, an Indian Bitcoin
millionaire, who will share
the experience of
becoming richer by
investing in Bitcoin. This
cryptocurrency was
developed on 3rd January
2009 by Satoshi
● Even though there are some doubts regarding its real founder, but most of
us are familiar with this name only. So let’s not indulge in digging research to
find its real founder.
● Now since Bitcoin is a digital technology, so it does carry a risk of becoming
vulnerable to hackers and scammers, who with their clever tactics cheat
crypto users by cracking the privacy and send little coins to their personal
wallets. This practice is known as dusting attack.
Meaning Of Dust In Cryptocurrency
● Before hopping on to our main subject on dusting attack, let us have a brief
understanding of the dust in the context of cryptocurrency. In terms of
cryptocurrencies, the word dust signifies a very small amount of tokens or
coins. This amount is so tiny that it does not come under the notice of users.
Let us take Bitcoin as an example to explain clearly.
● Suppose if the little unit of this currency is 1 satoshi, then it indicates dust,
which means the number of satoshis. Another meaning which defines dust is
the little amounts of coins that get stuck on accounts of users when the
implementation of trading orders is done. Even though dust balances cannot
be traded, still, converting them to BNB is done possibly by the Binance
● In the case of Bitcoin, dust cannot be officially defined, as the execution of
every software might seem to have a contrasting approach. Dust in terms of
Bitcoin Core can be explained as an output of a transaction, which is lesser in
comparison to that transaction fees.
● This is called dust limit. If you go by technicality, then the calculation of the
dust limit is based on inputs and outputs size. They generally determine 546
satoshis for constant transactions of Bitcoin, and 294 satoshis for related
transactions of SegWit.
● This makes us understand about the daily transaction, whether equivalent or
much little than the 546 satoshis will fall under spam and is certainly not
going to be accepted by authenticated nodes.
Dusting Attack On Bitcoin
● The reason for the occurrence of dusting attack is when users don’t pay
much heed to smaller quantity appearing in the wallets. This brings
opportunity for the scammers to take undue advantage by dusting majority
of addresses and sending some satoshis to their wallets. After this task, the
next step they use as a dusting attack is to include a number of analysis of
many addresses to point out the ones belonging to a similar wallet.
● The main objective of these scammers is to cleverly attach the wallets and
addresses that are being dusted to their own firms. And if they are lucky
enough to track down the knowledge, then it gives them the power to pit
against their prey through attacks by cyber or by phishing.
● Initially, Bitcoin became the first target of dusting attack. But now this threat
is also affecting other cryptocurrencies that are operating top on the
blockchain which can be traced. It all happened in the year 2018 when there
was an announcement by the developers of the Samourai Wallet of Bitcoin,
about the threat of dusting attack on their users. The developers even
warned them about this possible attack, and how they must defend
themselves from it. The team of Samourai Wallet even initiated an alert
reading ‘’Do Not Spend’’. It was regarding help for the users to know about
funds that seem to be misleading.
● Bitcoin is no matter a cryptocurrency that made many people including the
highest bitcoin holder in India and others from different countries. But since
it is a digital currency, then it needs to be protected from security threats
like hacking and spams.
So this was all about dusting attack. Though it is not so easy to hack or
disrupt Bitcoin blockchain, wallets often fall under the risk of such
threats, which becomes a concerning matter. While creating an account,
personal information is not being shared by the users. In that case, it
becomes difficult for users to prove any theft committed by hackers by
accessing their coins for personal gains.
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