Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Solana Forum => Topic started by: pelana vreo on August 08, 2022, 05:47:38 AM
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(https://i.imgur.com/pqMBMKf.jpg)
The widespread hack is estimated to have impacted more than 7,000 wallets and resulted in $8 million in funds lost.
A widespread hack has seen as much as $8 million in funds drained across a number of Solana-based hot wallets.
On Aug. 2, Solana trended on Twitter as countless users were either reporting on the hack as it unfolded or reporting to have lost funds themselves, warning anyone with Solana-based hot wallets to move their funds into cold wallets.
The exploit was later reported to be connected to Slope mobile wallet applications, with no evidence that the Solana protocol or its cryptography was compromised. Source: https://cointelegraph.com/news/ongoing-solana-based-wallet-hack-has-already-seen-millions-drained
What do you think about this, I saw a lot of things happening such as network congestion, bugs and currently Solana's wallet was hacked, does Solana still get investors' trust in the long term?
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In my opinion, it is a big problem for Solana because the security of Solana's wallet is still not good so it can be retested, if this is not fixed, investors will slowly live with Solana, maybe if Solana's wallet security is fixed, investors will trust Solana again.
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Hack issues has remains a big threat to the entire crypto ecosystem and not just the Solana network. There has been too many Hacks in recent times and I think all crypto organisation, and the communities that are holding crypto in any form should be very vigilant at all times. In my opinion Hack has contributed negativitly to slowing down the crypto developments, growth and progress. I suggest that everyone involved in all crypto businesses should always be at alert to avert these Hacks
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It's confusing because we have so many hacks during the crypto winter, that many people think that it is the project teams that intentionally attack themselves to take over users' crypto assets. The crypto market was frozen and the blockchain technology was hacked and users' assets were vaporized. We really need a safer investment environment in the Solana ecosystem!
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One after another hack! I don't know what's wrong with the so-called secure way of transactions. As many people attract towards Crypto because of the security and now, first FTX and then SOL Hacked, and there were more in the past. I think the Crypto world is shrinking for the new users as well the old investors will lose their investment, as they did in FTX, SOL, LUNA, etc.
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The bigger the TPS of the technology made, the more vulnerable it is to hacking, just look at Binance, the transaction speed offered by the POS, POH and PoSA systems has a good impact on people when making transactions, but this speed has its drawbacks, which are easy to hack and developers can deactivate Blockchain whenever they want.