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ARTICLE · 08 AUGUST 2022

Multiple Hacks Reported Across Various Sectors Of The Cryptocurrency Market

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Multiple hacks were reported in the crypto market this week. According to reports, more than 8,000 Solana Network wallets have been hacked, with approximately $8 million in...

United StatesTechnology
Robert A. Musiala Jr.
Robert A. Musiala Jr.
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Multiple hacks were reported in the crypto market this week. According to reports, more than 8,000 Solana Network wallets have been hacked, with approximately $8 million in cryptocurrency value stolen. The hackers reportedly obtained the private keys needed to initiate and approve transactions on behalf of the wallet users, which potentially indicates that a third-party service holding the private keys for multiple wallets may have been compromised. According to reports, Slope wallets and Slope-tied Phantom wallets may have been the target of the hackers.

In a separate incident, the ZB cryptocurrency exchange was reportedly hacked this week, with the hackers stealing approximately $5 million in crypto. According to reports, the stolen crypto was later sold on decentralized exchanges.

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