The Solana ecosystem hacked by hackers on Wednesday
The Solana ecosystem was hacked by hackers on Wednesday, the latest attack on the cryptocurrency sector, following the attack on the bridge protocol Nomad earlier in the week that affected thousands of wallets. The attacker’s origin is still unknown, even though over 8,000 hot wallets connected to the internet have already been compromised. Although the total value of the money seized was unknown, security firm PeckShield claims that four Solana wallet addresses defrauded their customers of $8 million.
According to Changpeng, the security issue appears to have affected more than 8,000 wallets, draining them of their SOL tokens and USDC stablecoins “This was tweeted by CZ” Zhao, the CEO of the cryptocurrency exchange Binance. Zhao on Twitter said “There is an active security incident on Solana. Many (7000+ and counting) wallets are drained of SOL & USDC. Don’t know the root cause yet. Maybe permissions granted to apps.”
The cost of Solana’s stock, denoted by the ticker SOL, fell by 7% to $38.4 on the previous day, hitting its lowest point in a week. ” Solana is a brand-new blockchain that is supported by a distinct currency that acts as the network’s confirmation gas for transactions. Numerous hacks have been conducted on the wallets that support this coin. A recent successful effort to steal around 560M USD worth of Solana from numerous user wallets has rocked the Solana ecosystem. According to Sathvik Vishwanath, co-founder, and CEO of Unocoin, the reaction is a result of the token’s reduced price.
Solana is experiencing issues, days after Nomad almost lost $200 million due to a security breach on Monday. According to a study conducted in 2022 and published in June by the forensics firm Elliptic, bridges have already been the victim of thefts totaling more than $1 billion.
According to the aggregator DeFi TVL and the analytics firm DefiLlama, a total of $190.7 million was seized. The project’s total value after the breach, according to DefiLlama, is $5,900.