A Whale Who Owned the First Block of an Altcoin Was Hacked: He Had Never Touched His Assets, and the Loss Is Significant

On-chain researcher ZachXBT announced that a wallet believed to belong to an early investor in Solana was hacked, and approximately 180,900 $SOL tokens were stolen. The value of these assets is estimated to be around $14.2 million.

According to ZachXBT, the address believed to have been attacked belongs to a whale associated with Solana’s initial token allocation in the genesis block. The suspicious transactions reportedly occurred a few hours before the incident was announced.

ZachXBT and on-chain research firm Specter Investigation detected unusual fund movements while tracking the address. These movements included the unusual destaking of $SOL tokens and the transfer of assets to the Ethereum network via cross-chain bridges.

Researchers confirmed that approximately 180,900 $SOL coins were removed from the victim’s wallet. The victim’s address, along with some suspicious wallet addresses believed to be connected to the attack, were made public.

The method used in the attack and the ultimate destinations or platforms for the stolen assets are still unknown.

*This is not investment advice.