top of page

Crypto suffers a new setback with the breach of thousands of Solana wallets

Updated: Aug 28, 2022

By Hayfa Ashraf

Elliptic, a blockchain forensics company, reports that around US$5.2 million worth of cryptocurrency has been taken thus far from over 7,900 Solana wallets. According to security firm Peck Shield, four Solana wallet addresses stole around $8 million from the victims.

The other co-founder of Elliptic, Tom Robinson, stated that "the core reason is still unclear." "Rather than a fault in the Solana blockchain itself, it appears to be caused by a flaw in certain wallet software."

In early trade on Wednesday, the hack drove Solana's SOL token down as much as 7.3 percent, to US$38.40. Solana Status, a Twitter account run by the Solana Foundation, said that the hack affected users of a digital cryptocurrency wallet created by Slope Finance.


Recent Posts

See All

Navigating the Sea of College Life

Alarm rings Snooze Alarm rings again Snooze Ah, the dreaded alarm clock. The bane of every college student's existence. I know the feeling all too well - hitting snooze a few too many times, only to p


bottom of page