Solana’s team of developers has determined the root cause behind the recent incident
After investigation, engineers from several different networks have determined that Recent hacking incident It was not due to a bug in the software code of the blockchain.
It has been determined that the attack was possible due to vulnerabilities in popular software wallets within the Solana ecosystem.
In all, around 8,000 wallets have been emptied as a result of the incident. Solana co-founder Anatoly Yakovenko has clarified that both Android and iOS users were victims of a supply chain attack.
As reported by U.Today, approximately $8 million has been withdrawn from victims’ wallets in SOL and other tokens compatible with the blockchain, according to preliminary estimates made by blockchain security firm PeckShield. Initially, the root cause of the attack remained unclear, with some suspecting that other blockchains may also be affected.
The recent hack attracted widespread attention within the cryptocurrency community. Of course, there was a lot of schadenfreude. As U.Today reports, Charles Hoskinson featured Jean-Luc Picard, a fictional character from the Star Trek franchise portrayed by Patrick Stewart, with a facepam GIF mocking rival networks.The attack affected an internet-connected hot wallet. This inevitably gives rise to a debate about whether one should use an internet-connected wallet over a hardware one, given the current security pitfalls.
Solana regularly experiences harmful security incidents, which is why many people initially assumed that the attack was caused by a bug in its software code.
According to data from CoinMarketCap, the SOL token is now back in the green after a massive drop due to the hack.