Crypto winter

Major crypto exchanges are encouraging Solana investors to transfer their holdings

Binance CEO Changpeng Zhao, KuCoin’s Johnny Lyu and OKX’s Jay Hao have asked Solana (SOL) investors to transfer their assets to the exchange following the recent hack.

A massive hack

CZ had alerted investors to an active security incident at Solana that exfiltrated assets from over 7,000 SOL and USD (USDC) coin wallets. It advised hacked investors to move their funds to Binance or cold wallets.

CZ, Johnny Lyu assured KuCoin users that the hack did not affect SOL assets. The company is in close contact with the Solana team and blacklists suspicious addresses upon request.

In addition, Jay Hao said he would transfer his stake to OKX to protect investors from theft. 4,444 users claiming funds from well-known Internet-connected e-wallets, including Phantom, Slope and Trust Wallet, unwittingly claimed that the latest Bitcoin breach affected the Solana network.

Several Solana addresses were affected by the massive hack as the private keys of many wallets were stolen. Over $5 million worth of SOL, SPL and other tokens stolen.

Additionally, Phantom states:
At this time, the team does not believe this is a Phantom-specific problem.

On the other hand, other crypto-exchanges such as Bybit are pre-blocking all deposits and withdrawals of assets on the Solana blockchain due to the inaccuracy of the capacity and scope of the hack.

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