Solana is facing a wallet exploit. As a result of which, 8,000 wallets worth more than $5 Million in funds. Despite this, multi-billionaire Sam Bankman-Fried believes in a bullish trend for the altcoin. According to the FTX owner, for about a month Solana’s SOL is currently the most “underrated token.” Sam Bankman Fried, or SBF made these comments in an exclusive interview for Fortune’s latest cover story. SBF to shake off blame also said that he is not giving any “investment advice.” Commenting on the wallet attack, SBF says it looks like an app built by someone is buggy and it wasn’t a core blockchain problem.
Crypto Security Firms partially agree with the SBF. They also think the exploit isn’t the result of the vulnerabilities in the Solana blockchain. They doubt a mass compromise of a user’s private keys or passwords is exploited by a third party.
Even after the current challenges associated with Solana, SBF predicts a high growth for the Solana blockchain. SBF said Solana had quite a lot of bad PR. But then he says that it was good since “it had to go through a shit. But, I think it has already worked through two-thirds of that. I think it will get through the other third.”
Due to his investment in Solana, SBF might not be fully impartial. In June 2021, SBF founded Alameda Research took part in a $314 million funding round for Solana Labs. SBF is also developing a decentralized exchange on Solana dubbed Serum.
Although he wanted Solana’s past issues to be solved earlier. SBF also acknowledges that there are chances of it happening. The project behavior of pushing through the boundaries and understanding what breaks is “what blockchains should be trying to do right now in order to grow.”