Category Archives: Solana News

Move-to-earn fitness app Stepn has denied reports that it has laid off staff. Earlier this week, reports from South China Morning Post and Wu Blockchain suggested the company laid off over 100 contract workers including community moderators and ambassadors. On Tuesday a spokesperson for the company told news outlet Decrypt that the claims were baseless and factually[Read more…]

Decentralized finance (DeFi) asset Solana (SOL) is recording significant capital outflow, with the network facing various challenges, including hacks and system outages. The incidents appear to limit Solana’s potential to take over established platforms like Ethereum (ETH).   In particular, as of October 13, Solana had a market cap of $10.6 billion, representing a drop of over $1.43[Read more…]

The platform’s treasury was drained of over $100 million worth of cryptocurrency after an attacker manipulated the price data of its native token to take out loans against their holdings. Solana-based decentralized finance (DeFi) exchange Mango Markets has been hit with a reported exploit of over $100 million through an attacker manipulating price oracle data, allowing them[Read more…]

In something of an audacious move, the attacker used their MNGO tokens to vote on their own Mango DAO governance proposal. Whale Targets Mango  Days after BNB Chain’s bridge was hit by a $566 million exploit, Mango Markets has suffered a nine-figure attack. The Solana DeFi protocol was targeted late Tuesday after a whale attacker[Read more…]

The Solana DeFi protocol suffered a $117 million exploit on Oct. 11, and the hacker wants 70 million USDC for a “bug bounty.” On Oct. 12, one day after $117 million was drained from Solana DeFi platform Mango Markets via a price feed exploit, the hacker responsible for the attack demanded a settlement. The proposal was filed on the[Read more…]

Solana [SOL]‘s journey in the cryptocurrency market has been nothing short of a fairy tale with every big player supporting the ecosystem in 2021. Although in 2022, SOL witnessed a few ‘haunted‘ twists in this tale. From hacks to price corrections to network outages, the list can go on and on. Fairy tale gone wrong?[Read more…]

Neel Somani, a former Terra developer, raised $15 million for his Solana-based cross-chain modular rollup startup, Eclipse, becoming one of the few to come out of the sunken TerraUSD stablecoin ecosystem with funding.  Somani formerly worked on Terranova, an Ethereum Virtual Machine (EVM) project designed to connect the TerraUSD stablecoin ecosystem to Ethereum. However, when the[Read more…]

A series of hacks has put October in the lead for the most crypto funds stolen in a month, according to new data from Chainalysis. This year is on pace to be the biggest for hacks so far, and now October is leading the charge for the top month, the blockchain analytics firm said. Chainalysis reports[Read more…]

Good news came in for SushiSwap [SUSHI] as it managed to nab the second position in the list of top gainers in the Solana ecosystem in the last seven days. Sushi registered some promising price movements lately that helped the token achieve this new milestone as it registered over 12% weekly gains.  According to CoinMarketCap, at press time, SUSHI was[Read more…]

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[Read more…]