Another bad week for crypto as more wallets are hacked

Hackers have launched yet another attack on crypto funds with 8,000 wallets in the Solana blockchain network being drained of over $5.2 million. 

This is only the latest hack hitting crypto wallets. Earlier this week, Nomad, a blockchain bridge, experienced a $200 million hack. Both Solana and Nomad have acknowledged the hacks but do not have answers on where the attacks are coming from. 

Solana’s co-founder, Anatoly Yakovenko, speculates that the attack could be connected to Andriod and iOS apps. He called on Apple and Google to provide more secure sign-in and recovery capabilities for their users in a tweet.  

Crypto hacks are becoming more common as hackers can easily spot and exploit errors in the open-source coding. Users have been advised to move their resources to a “cold” hardware wallet to protect their assets.