“The cause of the network stall was, in effect, a denial of service attack. At 12:00 UTC, Grape Protocol launched their IDO on Raydium, and bots generated transactions that flooded the network. These transactions created a memory overflow, which caused many validators to crash forcing the network to slow down and eventually stall. The network went offline when the validator network could not come to an agreement on the current state of the blockchain, which prevented the network from confirming new blocks,” Solana stated.