Posted on 08/04/2022 1:40:07 PM PDT by BenLurkin
On Wednesday, Solana, a popular blockchain and token, said that some wallets that held its assets had been breached. At least 7,700 such wallets are believed to be affected, the company said, while London-based blockchain-analysis firm Elliptic put the amount stolen at $5.2 million in crypto, which includes Solana tokens and the stablecoin known as USD Coin.
The hack is believed to have taken hold on wallets such as Slope and Phantom. These are “hot wallets” — that is, wallets that allow for lightning-fast transactions because they are always connected to the internet, as opposed to “cold wallets,” which usually require a USB drive and have long periods of disconnection. Solana — which at one time had the fifth-most-popular token before a slide — has made a name for itself as a blockchain that can transfer funds extremely quickly.
The news follows Monday’s revelation from Nomad, a so-called blockchain bridge, which acknowledged that about $190 million had been taken from it after a hacker infiltrated its system. The attack was known as a “free-for-all,” because the hacker’s original code allowed anyone to copy it and steal the crypto for themselves. It is not known where the money went.
(Excerpt) Read more at washingtonpost.com ...
“It is not known where the money went.”
It went gone, that’s where it went. And that’s where it will stay.
What a wonderful investment!
It’s a jittery fake currency industry …. 😏
The shakeout continues.
In the end there will be Bitcoin, and maybe Etherium. But even Etherium can be sketchy.
Only a couple of hacks rattling the “industry”? I thought everyone involved was a hack.
Invest in crypto they said......you’ll be a millionaire they said.....totally secure they said.....
Solana — which at one time had the fifth-most-popular token before a slide — has made a name for itself as a blockchain that can transfer funds extremely quickly.
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I’d say it’s working. The money has been transferred.
Still waiting for someone to simply explain how it works
The biggest problem with digital money is that it’s digital. It can be disappeared by someone half way around the world.
Yep, it’s happening more and more.
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