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Tuesday, January 31, 2023

Solana Has Been Ravaged By Constant Hacks

The blockchain of Solana went through the third incident in just a few months that stopped the network and led to several transactions failing. This has led to users debating whether the entire network clogging was the result of another distributed denial of service attack or if it was just some issue that the network has been periodically plagued by.

The nature and scale of the incident are quite hard to clarify, with Coinbase, Redditors, and Wu Blockchain all reporting that there have been incidents that have led to the network going slow and the transactions failing miserably. However, Anatoly Yakovwnko, the co-founder of Solana Labs has denied the possibility of a DDoS attack. 

Solana Plagued By Network Issues

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This latest incident on Solana comes in less than a month after a previous attack that left the network reeling with reports of getting clogged with mass botting due to another initial DEX offering on the decentralized exchange platform Radium, which is based on this altcoin. According to Wu Blockchain, the network for this altcoin went down for around four hours on Tuesday, which could be the direct result of another DDoS attack. 

A post on Reddit also highlighted several important screenshots of Solana users reporting major issues of failed SOL transactions around the same time that the network went through downtime. Coinbase also provided a report of the incident over the last 24 hours on the network of the altcoin, stating that the degraded performance was a result of failed withdrawals of SOL on the crypto exchange. 

In an interview with Cointelegraph which took place on the 22nd of December, Austin Federa, the head of communications at Solana Lab, stated that the developers were working round the clock to address the issues to the network. But as users would note, progress has been really slow. 

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