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Wednesday, January 25, 2023

Thousands of Crypto Solana Wallets Are Under Cyber-Attack

Hackers targeted the Solana ecosystem early Wednesday with thousands of wallets affected in the latest hit to the cryptocurrency market after bridge protocol Nomad was attacked at the start of the week.

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Azeem
Azeemhttp://azmitech.com/azeem
My name is Azeem. I'm a Blogger & Developer. I also write about Technology, gaming and other geeky topics. Founder of Azmi Tech, aka Snapchat Content Creator.

The generally disreputable crypto crash isn’t the only thing that is risky to the crypto market right now; hackers are also at slack and are hacking into some of the most well-reputed crypto startups and companies. On the recent Wednesday of this week, hackers targeted the Solana crypto platform and pretentious thousands of Crypto Solana Wallets and other digital assets.

It is estimated that almost $5.2m has been stolen from 7900 crypto wallets yet, now that’s a shocking figure. However, adding to the revelation ‘PeckShield’ a blockchain security company, showed that just 04 Crypto Solana Wallets were able to trench almost $8m from the cyber-attack victims.

Therefore, who is behind this Crypto Solana Wallets attack, and what was the root cause of this cyber-attack? So, in the face of strong inquiries, no root cause has originated. Tom Robinson, a co-founder of Elliptic (a blockchain forensic firm), said, “It seems that due to a flaw in certain wallet software, rather than that in the Solana blockchain itself.”

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In the coming days after the attack on its blockchain, it came forward on Twitter. It is declared that there was no sign blaming Solana’s protocol or safety and that the hacking took place because of some peripheral reasons. Startups funded by Solana Ventures have also suffered at the hands of this attack.

‘Slope’, a startup that newly raised $8m in a funding round headed by Solana ventures, reported that a group of their wallets has been affected. Equally, their founders and employees have lost significant amounts from their wallets. Apart from stealing tokens from crypto wallets, the hackers also claimed that they had stolen a bunch of NFTs from different user accounts.

With the growth of crypto, we are seeing increasing hacking attacks on crypto-based businesses. A few days before, a bridge protocol crypto transfer got hacked and lost over $200 million.

After that Solana had approximately major losses, the hacking also caused the “Salona Price Today” SOL token to reduce its value by a huge 7.3 per cent & come down to its all-week low of 38.40 dollars.

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