CEOs Of Binance, KuCoin, And OKX ‘Wind Up’ Safely Amid The FUD Storm Solana

Amid the news that Solana couldn’t resist the hack on Wednesday, prominent CEOs like Changpeng Zhao (CZ) of Binance, Johnny Lyu of KuCoin, and Jay Hao of OKX recommended SOL investors transfer their funds. assets to the exchange for immediate safety.

Many blockchain investigators and investors have flagged the alleged widespread private key breach that allowed attackers to steal SOL native tokens and Solana-compatible SPLs like USDC from Phantom and Slope wallets.

However, the root cause of the attack remains a mystery as all parties, including Solana and Phantom, deny the fault is on their part. Phantom has expressed its official position on the matter:

“We are working closely with other teams to get to the bottom of a reported vulnerability in the Solana ecosystem. At this time, the team does not believe this is a Phantom-specific issue.”

In parallel with the ongoing investigations into the Solana glitch, CZ warned investors that an “active security incident on Solana” had withdrawn SOL and USDC from over 7000 wallets. He advises those who have not been hacked to move assets to cold wallets or Binance.

Lyu gave the same assurance to KuCoin users as he confirmed all SOL was not affected by the hack:

However, Hao repeated CZ’s recommendation and reminded investors to move assets to OKX to protect themselves.

Due to the unknown risk and reach of hackers, other exchanges like Bybit have proactively suspended all deposits and withdrawals of assets on the Solana blockchain.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

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