There have been several hacks over the past few months and here is the latest hack on the Solana Network.
Lark Davis shared: Massive hack has happened on the Solana Ethereum Bridge. Over 300 million in ETH have been stolen.
Community Response: PS for all of you dunking on Solana right now. You do know that there have been like a dozen bridge hacks in the last few months across most chains right?
So, here is someone who tried to give a clarification – calls it Frameworks down:
Framework to bridge framework with the framework: web3 – multi-chain – cross-chain framework to connect frameworks with other frameworks so we can build more frameworks – nobody ever discusses end-user utility – its frameworks down. Also, the second point for those dunking on Solana, the blockchain was not hacked or exploited. An application was.
Complaints: Where is this bridge? I use a phantom Wallet but never can swap ETH there? Does this affect Coinbase, Coinbase Wallet, or Trust wallet?
In my opinion, this is why Bitcoin and Litecoin reign superior. Sure, there is hate on Litecoin price – however, it’s hard money.
And obviously, Bitcoin is king. Protocols like Solana provide ambitious road maps, but at the same time, they are more vulnerable.
The real winner will be multi-chain. BTC and LTC are secure, but slow on top of POW.
Solana did this on purpose to try to lower the price of ETH. Solana should go to 1 dollar for this.
Solana is centralized hot garbage. Avoid.
Was it an exploit on Solana side?
Was bitcoin hacked too? Oh, wait, no. No. Bitcoin has never been hacked.
Sure, it was just the bridge. Looks like it was probably an exploit on the Solana side, not on the Ethereum side. See the transaction where 120k Wormhole ETH was minted on Solana.
Dunk on Solana and expose it. This was an AWS Coin made by VCs and it was pushed to the market. It is a crap. Bridges have got hacked recently, but SOL is the King of getting hacked and shutting down. It’s a crap network by VCs to get crypto $.
Not even wrapped ETH is safe. You all need to let it go. Stop supporting a community that drags struggling, desperate people into a viper pit of gas fees. It’s genuinely immoral.
Vitalik called this like two weeks ago, SOL “come on man” their recent outages caused millions of user funds to be liquidated, now SOL side hack for 200 million. SOL is not ETH, it is the less secure, less decentralized, leaderless cheap version of ETH.
Whose fault is this? Solana or Ethereum? I feel like Solana has Modus Operandi dude, since 2% are only in public, the investors and insider could slowly cash out and says it’s a “hack”.
I think the “break things and move fast” mantra by VC should not be applied to tech that manages people’s money. It’s just irresponsible.
This is why cross-chain will not have a future here. Solana has had so many network down times that’s why people are now pointing at them, when something goes wrong. But this case, is that of a bridge attack. Bridges are neither Ethereum nor Solana. They just separate protocol that helps one interact with different blockchains.
SOL and ETH are the 2 biggest rush jobs in Crypto and still unfinished beta software. No surprises. Time to move to better options.
Optimistic investors: Bad for Solana even when they can’t help it. But, Solana your strong you get back up there. True thing. Solana biggest gainer in the top 100 of 2021 and just getting started.
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