A new attack has occurred on the Solana (SOL) Blockchain that affects users. Hacker or hackers managed to withdraw close to 8 million dollars from users’ wallets. This has been one of the latest issues affecting altcoin Solana, a network that has stopped many times in the past for different reasons. The situation has caught the attention of many prominent figures in the crypto space. Binance CEO Changpeng Zhao shared a tweet warning of the issue. Here are the details…
Wallet hack on Solana network: Binance CEO tweeted
cryptocoin.com As we reported, the Solana network was hacked for over $8 million after an attack found a way to steal users’ private keys behind some wallets. According to Peck Shield Alert, the attack cost users close to $8 million, excluding an illiquid virtual currency. The CEO of Binance, the largest cryptocurrency exchange by trading volume, tweeted on the subject. CEO Changpeng Zhao used the following statements:
Solana has an active security issue. Many (over 7,000) wallets have USDC and SOL stolen. We don’t know the root cause yet. Maybe it’s because of the permissions given to the apps. Send funds to a cold wallet or a CEX (central exchange) such as Binance to avoid exposure.
https://twitter.com/cz_binance/status/1554669764106148992
The latest in the altcoin network: What do the experts say?
Users from all over the world are reporting how Solana funds have been withdrawn from users’ wallets. Experts recommend that users make sure their funds are safe and avoid interacting with different applications running on the SOL network. The situation seems more complicated than many believe.
According to some Solana profiles and service providers on Twitter, this appears to be more of a common issue than a protocol-specific issue. This means that the attack can affect not only users interacting with certain protocols, but a wider audience regardless of their activity on the network. Emin Gün Sirer, Founder and CEO of Ava Labs, said the following about this situation:
There is currently an ongoing attack targeting the Solana ecosystem. More than 7,000 wallets were affected. It rises every 20 minutes. There is a lot of misinformation and speculation as it is too early and the attack is underway.
Solana faced many hacks
This isn’t the first time Solana has been affected by network issues. However, given that funds were withdrawn from users’ wallets, it is one of the largest hacks ever carried out on the Solana network. It also seems to be one of the biggest hacks in the crypto industry. Let’s not forget that Solana is one of the largest Blockchain networks in the cryptocurrency market. Over the past year SOL has grown into one of the largest digital currencies in the world.
According to the data, Solana has dropped over 3.5 percent in the last 24 hours. It currently has a market capitalization of $13.5 billion. At the same time, the price of each SOL token is $39.15. The cryptocurrency market has always been targeted by hackers and attackers.
