Based

Solana

Elon MemeLord

Elon Musk

Sanctum Protocol, a prominent player in the Solana ecosystem, has raised the alarm about a significant breach. The protocol, known for its liquid staking token services, has lost control of its primary domain to an unknown entity, potentially exposing users to scams and phishing attacks. 
<h2 id="sanctum-protocol-security-breach-alert">Sanctum Protocol Security Breach Alert</h2> 
In a critical announcement today, Sanctum Protocol, a liquid staking token (LST) protocol built on the <a href="https://coingape.com/top-solana-coins/" target="_blank" rel="noopener">Solana ecosystem</a>, has alerted users to a serious security breach. The protocol’s official X account disclosed that they have lost control of their domain name, unstake.it, which has been taken over by an unknown entity. 
Their officials believe the compromised website is likely being used for scamming or phishing purposes, posing a significant risk to users. The protocol has strongly advised all users to avoid visiting or interacting with the unstake.it website in any capacity. 
For those who have previously authorized the website have been urgently recommended to revoke all access rights immediately to protect their assets and personal information. The team stated they are actively working to have the domain blacklisted on various cryptocurrency wallets to prevent further potential harm. 
They are also getting the domain revoked and unhosted. This incident serves as a stark reminder of the ongoing security challenges in the <a href="https://coingape.com/glossary/cryptocurrency/" target="_blank" rel="noopener">cryptocurrency</a> space and the importance of vigilance when interacting with <a href="https://coingape.com/glossary/defi-decentralized-finance/" target="_blank" rel="noopener">decentralized finance</a> (DeFi) protocols. They have promised to provide updates as the situation develops. In the meantime, users are advised to stay alert and verify all communications through official channels. 
Also Read: <a href="https://coingape.com/breaking-mt-gox-prepares-to-move-the-rest-of-80-5k-bitcoins-btc-under-pressure/" target="_blank" rel="noopener">Mt. Gox Prepares to Move the Rest of 80.5K Bitcoins, BTC Under Pressure</a> 
<h2 id="solana-based-airdrop-controversy">Solana Based Airdrop Controversy</h2> 
Prior to the security breach, Sanctum faced criticism over its CLOUD <a href="https://coingape.com/glossary/token/" target="_blank" rel="noopener">token</a> airdrop strategy. The project aimed to reward long-term alignment and “earnestness” rather than short-term airdrop farming. Half of the airdrop was allocated based on points, while the other half was distributed based on users’ social contributions to the project. 
Despite intentions to combat crypto-cynicism, the airdrop resulted in significant community disappointment. Many recipients expressed anger and frustration with the allocation, leading to public criticism and even tracking of users who sold their tokens immediately after receiving them. 
The co-founder FP Lee acknowledged that while certain aspects of the <a href="https://coingape.com/glossary/airdrop/" target="_blank" rel="noopener">airdrop</a> execution were successful, such as incentivizing long-term holding through better vesting prices, the attempt to reward earnestness fell short. It created resentment among those who didn’t receive allocations, contrary to the goal of rallying the community around positive behavior. 
Also Read: <a href="https://coingape.com/venezuelan-president-accuses-elon-musk-in-new-conspiracy-claims/" target="_blank" rel="noopener">Venezuelan President Accuses Elon Musk in New Conspiracy Claims</a> 
The post <a href="https://coingape.com/solana-based-sanctum-protocol-sounds-alarm-on-compromised-website/">Solana Based Sanctum Protocol Sounds Alarm On Compromised Website</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Solana Based Sanctum Protocol Sounds Alarm On Compromised Website

Table of Contents

Coingape News Media

Άλλα άρθρα που δημοσιεύτηκαν στις 30 Ιουλ 2024

Bitcoin Spot ETFs See Mixed Inflows: Grayscale Outflows Amidst Market Fluctuations

Mt. Gox Bitcoin Distribution: Creditors Opt for Long-Term Holding

How Bitcoin Price Could Benefit from the U.S. Government’s $35 Trillion Debt and Reach New Highs ...

Is It Too Late To Buy BOME? BOOK OF MEME Price Pumps 9% And This Might Be The Next Crypto To Explode

‘Golden Boys’ behind Compound ‘governance attack’ agree to rescind proposal

Crypto-Games.io: Integrating Lightning Network and Offering Top-Rated Casino Games

Join our free newsletter for daily crypto updates!