Hackers steal $5m, compromise 8,000 Solana wallets in cryptocurrency heist

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“The root cause is still not clear,” Elliptic’s co-founder Tom Robinson said. “It appears to be due to a flaw in certain wallet software, rather than in the Solana blockchain itself.”

The attack sent Solana’s SOL token down as much as 7.3 per cent to $38.40 in early trading on Wednesday, its lowest in a week. Bitcoin was up 1.5 per cent at $23,367.

Crypto projects have proved to be a funnel for hackers, and the industry has suffered numerous attacks this year.

Solana’s hack comes days after Nomad — a bridge protocol known for transferring crypto tokens across different blockchains, lost close to $200 million in security exploits on Monday.

More than $1 billion has already been stolen from bridges in 2022, according to a June report by Elliptic.


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