Solana

Solana, an increasingly popular blockchain known for its speedy transactions, has become the target of the crypto sphere's latest hack after users reported ...

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Hackers targeted the Solana ecosystem on Wednesday with thousands of wallets being affected in the latest hit to the cryptocurrency market, just a few days ...

“Solana is a new blockchain supported by a token of its own that works as the gas to confirm the transactions on that blockchain. Remove some to bookmark this image. Solana is an open-source project that banks on blockchain technology’s permissionless nature to provide decentralised finance (DeFi) solutions. A part of the reaction is the decreased prices of the token," said Sathvik Vishwanath, Co-Founder and CEO, Unocoin. Solana’s token SOL fell 7% to $38.4 in the last 24 hours, its lowest price in a week. Over 8,000 internet-connected hot wallets have been compromised so far, however, the source of the attack remains unknown.

Thousands of crypto accounts linked to the Solana blockchain have been “drained” in a blow to one of the biggest networks in the digital asset market.

Hackers have targeted the Solana ecosystem, draining crypto funds from thousands of connected wallets. Such attacks are common among blockchain platforms, ...

Hackers have targeted the Solana ecosystem, draining crypto funds from thousands of connected wallets. It seems hackers have been able to steal both Solana’s own cryptocurrency (SOL) and some compatible with the Solana blockchain, like the stablecoin USD Coin (USDC). As the attack is ongoing, the value of the assets stolen is not clear, but reports from independent analysts and security firms suggest it is currently in the high single-digit millions of dollars. Solana’s official Twitter account said that approximately 7,767 wallets had been affected by the attack, including those operated by third-parties Phantom and Slope. The company did not explain the cause of the attack, but noted that there was no evidence that hardware wallets (those not connected to the internet) had been affected.

Solana was a victim of yet another hack in the late hours of Tuesday, 2nd August 2022. So far, 8000 wallets have been drained and the cause…

Moreover, there is no confirmation on whether the attack has ceased. This is not the first time the Solana network has been hacked. There is no confirmation if the attack has stopped or is still ongoing. Dagen compares the Solana attack with the Luca Stealers’ method and outlines the similarities. However, whether Luca Stealer is the actual hacker is not yet confirmed. The Solana network has fallen prey to yet another exploit.

Nearly 8000 digital wallets have been drained of just over $5.2 million in digital coins including solana's sol token and USD Coin, according to Elliptic.

A major outage in June knocked the Solana platform offline for several hours. It's the latest crisis to grip the crypto market in recent weeks. A private key is unique and links a user to their blockchain address. Blockchain audit firm OtterSec tweeted that the hack has affected multiple wallets "across a wide variety of platforms." Seed phrases are a collection of random words generated by a crypto wallet when it is first set up, and it grants access to the wallet. OtterSec added that the transactions were being signed by the actual owners, "suggesting some sort of private key compromise."

Early Wednesday, an unknown attacker drained at least $5 million of SOL and other tokens from Solana digital wallets.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. Matthew Dibb, chief operating officer and co-founder of Stack Funds, said, "Sol has been underperforming relative to other layer 1s recently; however, it is proving relatively stable given the hack today." The move aimed at mitigating liquidation risk was heavily criticized on social media as being the antithesis to the concept of decentralized or democratized finance.

Solana is a cryptocurrency that was designed to work similarly to and improve upon Ethereum. Named after a small Southern Californian coastal city, ...

After purchasing SOL tokens, investors will want to store SOL tokens in a crypto wallet after purchasing them. Solana expects to launch its mobile phone, the Solana Saga, in early 2023. In some cities around the globe, SOL tokens are even available in crypto and NFT ATMs. Like most of the world’s major cryptocurrencies, SOL tokens can be traded on any number of platforms. During the first three weeks of that month, Solana’s price jumped from around $30 to $75 in value. Delegated proof-of-stake is a variation of the more traditional proof-of-stake algorithm. Solana, however, is designed to address two parts of the trilemma: security and scalability. This algorithm timestamps each block in such a way that maintains the system’s security. This does not appear to be a bug with Solana core code, but in software used by several software wallets popular among users of the network.” This is one reason for Ethereum’s upcoming Merge, where the network will convert to a proof-of-stake system. Staked tokens are held as collateral by the blockchain until validators reach a consensus about the chain’s next block. In recent news, the Solana ecosystem experienced a hack on Aug. 2.

Nearly $4.5 million worth of tokens have been drained from thousands of Solana wallets since Tuesday night. Here's the latest.

The Solana network was at times inaccessible or difficult to use last night due to partial outages with RPC nodes that facilitate network traffic. However, it has rebounded somewhat to a current price of just over $40 per coin, or about a 2% dip over the last 24 hours. Blockchain security firm OtterSec has asked affected users to fill out a form with details of their wallet and activity. However, that didn’t appear to help since transactions were being signed, thus suggesting a compromise of users’ private keys. That theory comports with evolving sentiment last night and overnight by Solana developers and security experts. Per Solana Status, “engineers from across several ecosystems, in conjunction with audit and security firms, continue to investigate the root cause” of the attack.

Solana Foundation, supporter of blockchain network, says 'malicious actor' has taken funds.

The stolen assets include SOL, a small number of non-fungible tokens (NFTs) and over 300 Solana-based tokens.” It said the assets stolen included the Solana cryptocurrency, or SOL, and non-fungible tokens. Elliptic, a blockchain consultancy that helps clients combat crypto-related crime, said the attack began on 2 August and $5.8m had been taken so far.