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Scammers have found a way to burn tokens from inside Solana wallets

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A new scam targeting users of the Solana blockchain has emerged, with malicious actors exploiting vulnerabilities to burn tokens directly from Solana (SOL) wallets. The sophisticated attack has raised concerns about the security of digital assets on the Solana network.

The scam involves hackers gaining unauthorized access to users’ Solana wallets and executing transactions that burn, or permanently destroy, tokens held within these accounts. The technique effectively erases the tokens from circulation, resulting in significant financial losses for affected individuals.

Reports indicate that the attack is carried out through phishing schemes and deceptive links, which trick users into revealing their private keys or seed phrases. Once the attackers have access, they perform transactions that remove tokens from the victims’ wallets without their consent.

The Solana development team has been actively investigating the breach and working to enhance security measures across the network. In response to the scam, Solana has issued warnings to users, advising them to be vigilant about phishing attempts and to use secure practices for managing their wallet credentials.

In addition to strengthening security protocols, Solana is collaborating with cybersecurity experts and law enforcement agencies to track down the perpetrators and recover lost assets. The blockchain platform is also exploring potential improvements to its wallet infrastructure to prevent similar incidents in the future.

The emergence of this scam highlights the ongoing risks associated with cryptocurrency investments and the importance of robust security practices. Users are encouraged to employ multi-factor authentication, regularly update their security settings, and exercise caution when interacting with unknown sources.

As the Solana community grapples with the fallout from the attack, the incident serves as a stark reminder of the vulnerabilities that can affect even well-established blockchain networks. Efforts to address the issue are ongoing, with a focus on safeguarding user assets and restoring confidence in the platform.

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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