Solana's Price Fluctuates Badly After Wormhole Portal Got Compromised

[Good-Guy]

There are many cryptocurrencies in the world. One of the biggest cryptocurrencies is Solana coin. Solana has been a coin that managed to get many people to invest in it. According to some reports from reliable sites such as Coin Market Cap, the rank of Solana is 7th in the cryptocurrency world. This means that this coins holds a very powerful position in the cryptocurrency world. Unfortunately, things have not been so great for this coin right now. According to a few reports from some sources, the Solana coin dropped a lot.

However, according to some fresh news reports, the coin dropped to more than 10 percent as some news about hacking of Solana's wormhole portal got compromised and approximately $320 million worth of cryptocurrency vanished. The network was supposedly hacked. Wormhole is a portal that connects the blockchain of Solana and Ethereum. This is how it is stated to work. This news actually impacted Solana badly. There were many investors who were already concerned about this coin. But now no one knows what will happen now. Solana coin actually rose in value a couple of days ago when the popular Coinbase platform added two Solana tokens to their platform.

 

[sincerem]

That's a shocker indeed, it will definitely affect it's development at the meantime, it gonna suffer bearish for some time, because, the money loss is whopping amount of money. I don't think the amount of $320 million can be recovered any more, if it isn't possible, then it will be wise for the owners to move forward and forget it. Because, their is more to the future than what they've seen now, it's complete a downtime to the Solana community. Malicious hacking is never a new thing online, it occured severally to Binance Exchange, and they recovered from it. And now, they've built more robust security protocol, which wouldn't make it easy for malicious hackers to penetrate through, and conduct another hacking that is damaging, just as Solana cryptocurrency community just suffered.

My heart pours out to such amount of money stolen by the Cyber criminals, even if I am.not directly affected, but it is something pitiful indeed, due to how painful hacking has been, when you're a victim.