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Now fixed, Solana Protocol Library bug, had potential to expose $2.6 billion to risk of theft
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Rug pulls and network exploits have dominated much of the buzz within the cryptocurrency industry, and for good reason. DeFi applications have now lost over $2 billion in total owing to such hacks. The latest one this week alone accounted for $120 million.
Further, billions more could have been lost from the Solana ecosystem if a recently rectified bug had not been detected, according to security researchers at Neodyme.
In a recent blog post, the researchers revealed that a bug in the Solana Protocol Library (SPL), could have allowed attackers to steal money from multiple Solana projects at a rate of $27 million an hour. The total value at risk rang up to $2.6 billion. SPL is a set of reference documents for Solana projects.
Potential targets
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