The Solana Foundation, which helps promote the use of the network, told the Financial Times the hack appeared to have been caused by a bug “in software used by several wallets popular among Solana users.” (Financial Times)
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The Solana Foundation, which helps promote the use of the network, told the Financial Times the hack appeared to have been caused by a bug “in software used by several wallets popular among Solana users.” (Financial Times)
Talking point: It’s the latest setback for Solana, a blockchain designed to be more scalable than other networks like Ethereum, but has struggled with outages that halted transactions for several hours in some cases. It’s also not the only major breach this week: hackers stole nearly US$200 million from Nomad, a blockchain bridge that allows users to send tokens between networks. Meanwhile, regulators continue to play catch-up with the industry. On Monday, the U.S. Securities and Exchange Commission charged 11 people for allegedly operating a Ponzi scheme called Forsage. U.S. senators also rolled out legislation Wednesday that would give oversight of Bitcoin and Ether to the Commodity Futures Trading Commission.
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