Following Solana Wallet Hacks, Polkadot Ambassador And Hiro CTO Call For Action To Keep DeFi Safe

Last week, millions of dollars were hacked from Solana's (CRYPTO: SOL) ecosystem. While its blockchain wasn't hacked directly, hackers were able to drain funds from Solana wallets.

Timeline of Polkadot-new, Solana

Pastel Network, a leading purpose-built blockchain and protocol standard for non-fungible tokens (“NFTs”) and Web3 technology, is teaming up with Parity Technologies. The integration will enable both native parachains and decentralized applications across the Polkadot ecosystem to leverage Pastel's powerful technology, providing added security for projects and users.

The Solana price analysis shows that the bulls have succeeded in making an impact during the last 24 hours after successfully continuing their lead. A significant amount of recovery in SOL value has been observed as the price has increased up to $43.3 because of the latest upturn.

Solana [SOL] 2021 performance remains one of the best in recent times. Unfortunately, the “Ethereum killer” had failed to replicate that bullish run as it remained at a whopping 83.68% below its all-time high (ATH) as per CryptoQuant.

Over the last few weeks, Solana's [SOL] patterned breakout crystallized into a symmetrical triangle after retesting the upper trendline of the down-channel. The close above the 20 EMA (red) and the 50 EMA (cyan) has hinted at an increasing buying edge.

Austin, TX, United States, 11th August, 2022, Chainwire Jito Labs, an MEV infrastructure company building performant systems to scale Solana, has completed a $10M Series A. The round was led by Multicoin Capital and Framework Ventures with participation from Alameda Research, Solana Ventures, Delphi Digital, MGNR, Robot Ventures, and 18decimal.

Jito Labs, which is building infrastructure to mitigate the negative impact of MEV on Solana, has raised a total of $12.1 million. The post Solana MEV infrastructure developer Jito Labs raises $10 million appeared first on The Block.

The third-party Solana wallet Slope has admitted to a critical vulnerability on its mobile product but denied finding any “conclusive evidence” linking the vulnerability to the $5 million Solana wallet exploit from earlier this month.

Solana (SOL/USD) price rebounded on Thursday as investors reflected on the latest US consumer inflation data. It rose to $45.07, which was the highest point since July 30th of this year. This price is about 71% above the lowest level in June this year, bringing the total market cap to over $15.40 billion.

After two failed attempts to break above the $44 level, Solana is back at it again. Key Support levels: $40, $35  Key Resistance levels: $44, $59 The bulls are seemingly very eager to push the price higher.

The Solana wallet provider said that it plans to hunt down the hacker and try to make its users whole. The post Slope: No ‘conclusive evidence' tying $4 million Solana hack to its own security flaw appeared first on The Block.