Solana Wallets Hacked, Zipmex Resumes Withdrawals, Hashed Lost $3B in Luna Crash

Written by Crypto University

August 4, 2022

Solana Wallets Hacked 

Solana, a proof of stake blockchain, is the latest cryptocurrency network to suffer a hacking attack. An unknown actor reportedly hacked and drained approximately 8000 wallets. Solana Status reported that the cause did not appear to be a bug with Solana core code but in software used by several software wallets. The attack only affected hot wallets – or otherwise wallets connected to the internet. 

“Engineers from across several ecosystems, in conjunction with audit and security firms, continue to investigate the root cause of an incident that resulted in approximately 8,000 wallets being drained,” posted Solana Status on Twitter.

The cause of the attack is still under investigation. Phantom, a Solana-based crypto wallet, tweeted that they are working closely with other teams to get to the bottom of a reported vulnerability in the Solana ecosystem.

Zipmex Resumes Withdrawals 

Zipmex, a Singaporean cryptocurrency exchange, has resumed the withdrawals of a few cryptocurrencies. The cryptocurrency exchange now allows users to withdraw Solana, Ripple, and Cardano. However, Bitcoin and Ethereum withdrawals are still halted. The company made an official announcement denying rumors that it had filed for bankruptcy. 

“We realize many users will still have some BTC, ETH, and stable coins remaining in Z Wallet. We are working to ensure that we are in full compliance as we release some of these tokens into your Trade Wallet starting in the middle of August,” said Zipmex.

Zipmex paused withdrawals on the 22 of July, citing a combination of volatile market conditions and the illiquidity of their business partners. In the blog post, Zipmex revealed the said partners to be Celsius and Babel. 

Hashed Lost $3B in Luna Crash.

Hashed, a Singaporian blockchain investment firm, reportedly lost $3 billion in paper gains when Terra Luna crashed. In an interview with Bloomberg, Simon Seojoon Kim, the CEO, shared that the firm bought 30 million Luna tokens and lost most of its investment when the Terra Luna network crashed. Moving forward, the firm plans to invest in GameFi projects. 

“In the tech sector, there’s no such thing as a portfolio that guarantees success, and we make our investments with that in mind. We believe in the community’s growth, which has never changed.”Kim told Bloomberg.  

You May Also Like…

Share This

Share this post with your friends!