LooksRare After The Exponential Growth Suffers Under DDoS Attack

 

The exponential growth in value being developed by the Non-Fungible Token (NFT) class has surprised business experts.

The exponential growth in value being developed by the Non-Fungible Token (NFT) class has surprised business experts. Look at the stats. At the end of the year, more than $20 billion of NFTs were sold, of which $14 billion was spent on the OpenSea platform. With support from OpenSea's scope and generic classes, the section's new contributor, LookRare is trying to make it mainstream by offering customers some interesting free services.

Newmarket supported by unnamed co-founders, a total of 9 engineers. The platform has received a local token known as LOOKS, and  LOOKS is provided to devalue OpenSea clients who made 3 or more ETH transactions on the platform between June 16 and  December 16, 2021, to remove the client from OpenSea. 

In the cryptocurrency business, this particular attack method is called a vampire attack. We've already seen the same approach in Infinity, another NFT marketplace that debuted on the market last October. In addition to free tokens, there are several attractive offers hosted via LookRare to attract customers with slow buy and sell rates and promising annual returns. 

However, it is very important to know that a few hours after launch, the trusted LookRare website was subjected to a Distributed Denial of Service (DDoS) attack, and the platform went offline. The support team was quick to respond, and although the site was back online after a few hours,  many customers continued to complain that they did not have access to their wallets. 

If you look at the entire NFT area, it is expected that this area will develop with the same enthusiasm and enthusiasm that has been demonstrated over the past year. The number of purchases and sales of the major OpenSea platforms is very encouraging, with totals exceeding $2 billion in the first 10 days of January this year. 

However, the day was not very encouraging for NFT tokens. OMI tokens, owned by Ecomi, are the most convenient tokens, with a small increase in the number of valuation phrases throughout the day. All  NFT fixed assets have lost between 2% and 6% in the last day. The total capital of this token also increased and decreased by 4% simultaneously.

Read More: After One Day From Launch OpenSea Rival LooksRare Made Over $110 Million in Sales

Jamie Lamten

Jamie Lamten is a writer and investor in crypto, provides his opinions and the latest news about non-fungible tokens.

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