Apperantly, the cause for the Solana hack, Slope Finance, were saving seed keys in PLAIN TEXT on centralized servers. That’s 100% their fault then.

Another week and another hack happened in Crypto, this time on the much-hated Solana blockchain exploiting some phantom wallets. It was unknown how and why it’s happening for a few hours but then finally the Solana team knew that all wallets were connected to Slope Finance.

And Slope Finance got hacked and they were saying seed keys from their users as literal plan text on their centralized servers. I mean seriously? That’s literally like the banks saving your bank codes and all as plain readable text in a normal document on a sever. Such stuff has to be encrypted.

For this time I would say that even if the Solana blockchain is not the best they are certainly not responsible for this but just the very bad management and safety by Slope Finance. That should not happen in crypto or anywhere…

Edit: For a more detailed read-up you can go on the Twitter profile of SolanaStatus to get the official statements.