Solana

Foundation

Solana (SOL) price retraced back on Monday as <a href="https://news.todayq.com/solana-soars-10-after-major-software-upgrade/" rel="noopener noreferrer nofollow">Solana Foundation</a> took decisive action against a group of validator operators involved in sandwich attacks. It is a type of malicious trading strategy that exploits pending transactions to manipulate asset prices for profit. However, the cumulative crypto market recorded a marginal decline over the last 24 hours. Solana takes a big step 
As reported, a sandwich attack allows the attacker to position a pending transaction between two of their own transactions. This is done in order to ensure retail investors get the worst possible price. Till then the attacker benefits from the price difference.
Solana Foundation moved to remove these validators from its delegation program due to their participation in mem pools that facilitate such attacks. The major decision comes in line with the foundation’s strict rules prohibiting validators from engaging in malicious activities. These validators will no longer be assigned delegation work.
Solana’s validator relations lead reportedly stated the foundation’s decision highlights that any validator found engaging in harmful activities. This includes sandwich attacks. Tim Garcia added that they will be permanently removed from the delegation program.&nbsp;
Garcia stated, “Anyone found engaging in such activity will be rejected from the program, and any stake from the Foundation will be immediately and permanently removed.” What’s next? 
Solana is facing heavy selling pressure as its price has dropped by 8% in the last 60 days. However, SOL is up by 56% on the year to date (YTD) basis. Solana price dropped by 4% over the last 7 days. It is trading at an average price of $158.98, at the press time. Its 24 hour trading volume is down by more than 2% to stand at $1.5 billion.&nbsp;
SOL is the fifth largest digital asset with a market cap of $73.19 billion.
It’s delegation Program was designed to support validators by assigning them Solana tokens, thus reducing their burden of holding a significant number of tokens. Validators play a crucial role in creating blocks and verifying transactions, and they are selected based on their performance.
The foundation’s recent actions underscore its commitment to maintaining the integrity of the network and protecting retail users from exploitation.
Mert Mumtaz, co-founder of Solana RPC provider Helius, explained the issue on social media platform X, highlighting how some operators modified their validators to enable sandwich attacks on Solana. Mumtaz noted the importance of preventing such fraudulent activities to protect retail investors.

SOL dips as Solana cracks down on validator exploits

Todayq News

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