Solana Hit Hard: $27 Million Exploit Triggers Wave Of Shutdowns
Operating within the Solana ecosystem, the platform had become a familiar tool for tracking DeFi activity before events took a sudden turn. Step Finance’s sudden shutdown is a sharp example of how a single security failure can end a project’s life faster than many thought possible. Related Reading: Bitcoin’s Quantum Risk Steals Spotlight At Ethereum […]
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The loss due to internet shutdowns last year is estimated to be $2.4 bln. While internet access is taken for granted in today's connected world, various governments across the world have imposed internet shutdowns. Costly Government Intervention. According to research by The Center for Technology Innovation at Brookings, shutdown of the internet, primarily short-term, by governments have caused an estimated loss of $2.4 bln last year due to loss of economic activity alone. If the secondary impact such as loss of investors, consumer confidence, taxes, etc. of internet shutdowns is....
The Solana smart contract project is suffering from issues once again after it was discovered that close to 8,000 Solana-based wallets have been compromised. Solana is asking victimized wallet owners to complete a survey and the team stressed that “engineers are investigating the root cause.” Solana Investigates Massive Wallet Exploit, Root Cause of the Hack Is Still Unknown After the chain had halted on a few occasions in the past, Solana users are now dealing with an extensive wallet vulnerability that affected specific wallet software such as Phantom and Slope. Solana....
The Solana-centric lending application Solend lost $1.26 million in an oracle attack, according to Solend’s official Twitter account on Wednesday. A number of affected pools were disabled, and Solend says it has given crypto exchanges the exploiter’s address. Solana Defi Application Solend Loses $1.26 Million in Oracle Exploit The crypto community has seen two significant hacks in the last 24 hours, and one of them stemmed from the decentralized finance (defi) protocol Solend. The team’s official Twitter account tweeted about the loss after it said it suffered from an oracle attack....
Mango Markets was victim to the latest exploit this week, as crypto cannot seem to escape an absolutely abhorrent Tuesday. Two exploits less than one day apart – and less than a week after the BNB Chain exploit that utilized a bridge to create millions of new BNB. Another nine-figure exploit has rocked the crypto sphere, this time with Solana-based Mango Markets. The protocol faced a massive drain of funds, over $100M worth, after a hacker drained the project through price manipulation and high-dollar leverage. Let’s look at this latest exploit and what we know in the early....
Harvest Finance has seen its total value locked drop by more than $500 million in the 12 hours since being hit by a flash loan attack.