Behind The Scenes Of The Solana Hack, What Is The Solana Price After The Hack? - Coinleaks
Current Date:November 7, 2024

Behind The Scenes Of The Solana Hack, What Is The Solana Price After The Hack?

The Solana network, which was recently interrupted and suffered a total loss of 85% with this interruption, was attacked by hackers this time.

What’s Happening on the Solana Network?

The Solana network, which was recently interrupted and suffered a total loss of 85% with this interruption, was attacked by hackers this time. While it is not yet known who did the attack, it is among the information announced that more than 8 thousand wallets were breached. According to users’ reports, it was stated that funds were withdrawn from many hot wallets, including Phantom, Slope and TrustWallet, without users’ knowledge. According to the information received in this attack, which affected more than 8 thousand wallets, more than 6 million dollars of funds were stolen by hackers. Solana advised users to close their wallets and transfer crypto assets from the network to cold wallets. It was offered as an alternative solution for users who do not have hardware such as a cold wallet to transfer their assets to another central exchange. Making a statement on the subject, Solana Labs Co-Founder Anatoly Yakovenko announced that there was a DDOS attack on the IOS side that affected mobile devices.

The Danger Is Not Limited To Solana

Blockchain audit company OtterSec stated that they closely followed the Solana attack in a Twitter post yesterday. According to the statement made by the data platform Dune, while more than 8,000 Solana wallets containing millions of dollars worth of assets were hacked, some Ethereum users were also affected by the attack, but it was stated that this was not a problem affecting the general Ethereum users.

Is Slope Responsible for the Attack?

In a statement made by Solana Status on Twitter, it was stated that the hacking attack experienced by the network was caused by a technical vulnerability in Slope wallets. Slope, a web 3 wallet provider for the Solana layer-1 blockchain, has stored users’ private keys on a not-so-secure local network, according to the Solana Status team’s estimates. The Solana team also stated that there is no evidence that the Solana protocol or cryptography is at risk due to the attack.

The Price of Fading After the Attack

Solana, the 9th largest crypto currency, has decreased by close to 5% according to the last 24-hour data and regressed to the $ 38 thousand band, but with a small recovery, it continues its price activity at $ 39 at the moment. However, considering the recovery in Solana’s price, we can say that the hack attack did not affect the Solana price much.