Binance, KuCoin, and OKX CEOs Adapt Security Amid Storm Solana FUD
Along with ongoing investigations into the Solana fiasco, CZ warned investors of "an active security incident on Solana" which has drained SOL and USDC funds from over 7000 wallets.
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As Solana made headlines for succumbing to a hack on Wednesday, prominent crypto CEOs including Binance's Changpeng "CZ" Zhao, KuCoin's Johnny Lyu and OKX's Jay Hao recommended Solana (SOL) investors to transfer their holdings to theirs. exchanges as an immediate security measure.
Many blockchain investigators and crypto investors have reported an alleged widespread private key compromise, allowing the attacker to steal native SOL tokens and Solana-compatible SPL tokens such as USD Coin (USDC) from Phantom wallets and slope. However, the root cause of the attack remains a mystery as all parties, including Solana and Phantom, have denied wrongdoing on their ends. Phantom's official stance on the issue shared with Cointelegraph:
"We are working closely with other teams to uncover a reported vulnerability in the Solana ecosystem. At this time, the team does not believe this is a Phantom-specific issue."
Along with ongoing investigations into the Solana fiasco, CZ warned investors of “an active security incident on Solana” that has drained SOL and USD Coin (USDC) funds from over 7,000 wallets. His recommendation for non-hacked investors was to transfer their assets to a cold wallet or Binance.
There is an active security incident on Solana. Many wallets (over 7000 and counting) are emptied of SOL and USDC. I don't know the root cause yet. Maybe app permissions. To remedy, send the funds to a cold wallet or CEX like @Binance.
Along with ongoing investigations into the Solana fiasco, CZ warned investors of "an active security incident on Solana" which has drained SOL and USDC funds from over 7000 wallets.
New
As Solana made headlines for succumbing to a hack on Wednesday, prominent crypto CEOs including Binance's Changpeng "CZ" Zhao, KuCoin's Johnny Lyu and OKX's Jay Hao recommended Solana (SOL) investors to transfer their holdings to theirs. exchanges as an immediate security measure.
Many blockchain investigators and crypto investors have reported an alleged widespread private key compromise, allowing the attacker to steal native SOL tokens and Solana-compatible SPL tokens such as USD Coin (USDC) from Phantom wallets and slope. However, the root cause of the attack remains a mystery as all parties, including Solana and Phantom, have denied wrongdoing on their ends. Phantom's official stance on the issue shared with Cointelegraph:
"We are working closely with other teams to uncover a reported vulnerability in the Solana ecosystem. At this time, the team does not believe this is a Phantom-specific issue."
Along with ongoing investigations into the Solana fiasco, CZ warned investors of “an active security incident on Solana” that has drained SOL and USD Coin (USDC) funds from over 7,000 wallets. His recommendation for non-hacked investors was to transfer their assets to a cold wallet or Binance.
There is an active security incident on Solana. Many wallets (over 7000 and counting) are emptied of SOL and USDC. I don't know the root cause yet. Maybe app permissions. To remedy, send the funds to a cold wallet or CEX like @Binance.
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