Krutika Adani
In a new form of hacking, Solana wallet users are drained of their funds, which hackers simply burn rather than steal.
The hackers target indirect gain via high token burns, which will result in the appreciation of their token values. Though this may not be effective for Solana, it deprives the users of their hard-earned money.
This type of hack seems more aimed at creating a panic sell-off to crash Solana prices rather than an attempt to steal crypto.
If such attacks grow, they may discourage people from buying Solana and prompt current holders to sell their assets.
Despite a market correction, Solana has been highly stable above its support levels. At press time, Solana was trading at $128.