August 5, 2022 (Investorideas.com Newswire) The recent hack on the Solana cryptocurrency wallet has led to a drain of millions of dollars, which raised concerns about the security of the crypto ecosystem. Against this backdrop, the volume of discussions around ‘Solana’ among Twitter influencers surged in the first week of August as most of them commended on the use of decentralized or open source wallets, reveals the Social Media Analytics Platform of GlobalData, a leading data and analytics company.
Smitarani Tripathy, Social Media Analyst at GlobalData, comments: “Most of the Twitter influencers opine that the investors’ sentiments are again dented as the Solana-based wallets are compromised, which are based on closed source. Some of the Twitter influencers also define this exploitation as a ‘software supply chain attack’ and suggested all crypto wallets be open source or decentralized, as security becomes more challenging when the ecosystem is more centralized.”
Below are a few most popular influencer opinions captured by GlobalData’s Social Media Analytics Platform:
“What I find most interesting about the Solana attacks is that it represents a fundamental challenge in Crypto: If you want to create a large platform that can perform transactions quickly (like we’re used to with credit card transactions), security becomes a bigger challenge.”
“Ditching my #solana holdings. This chain is too insecure, goes down too often, is too centralized and has too many vulnerabilities. I’m out. #cryptocurrency”
“Blockchain protocols must assess all ecosystem projects security, before adding to trusted list. If you post a link to insecure crypto wallets at your main website, than u r responsible to hack as well”
“Solana closed source strikes again! The closed-source culture around Solana has real consequences for users In this case, about 41k $SOL and a total value of about $6.5m”
“Solana was not hacked A wallet was leaking keys Can happen on any chain
Thats why all wallets have to be open source…”
“Today is the day normies learn what the meaning of a “software supply chain attack” is. This is a major issue for ALL developers, not just @solana.
web2 has had massive security breaches and exploits due to supply chain attacks.
What is a supply chain attack?”
For more information
To gain access to our latest press releases: GlobalData Media Centre
Analysts available for comment. Please contact the GlobalData Press Office:
EMEA & Americas: +44 (0)207 832 4399
Asia-Pacific: +91 40 6616 6809
Notes to Editors
Quotes are provided by Aurojyoti Bose, Lead Analyst at GlobalData
The information is based on GlobalData’s Financial Deals Database
This press release was written using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by GlobalData’s team of industry experts.
4,000 of the world’s largest companies, including over 70% of FTSE 100 and 60% of Fortune 100 companies, make more timely and better business decisions thanks to GlobalData’s unique data, expert analysis and innovative solutions, all in one platform. GlobalData’s mission is to help our clients decode the future to be more successful and innovative across a range of industries, including the healthcare, consumer, retail, financial, technology and professional services sectors.
This news is published on the Investorideas.com Newswire – a global digital news source for investors and business leaders
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.
More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com