Coinbase Hacker Acquires $8M in Solana After Stablecoin Conversion Raises Security Concerns

A hacker linked to a major cryptocurrency heist has purchased $8 million worth of Solana (SOL) after converting stolen funds into the cryptocurrency’s native token. This transaction, which involved significant asset movement and sparked alarms among security experts, highlights potential vulnerabilities within blockchain systems. 💰

The hacker converted stablecoins into Solana, raising concerns about their involvement in a major theft from the Coinbase exchange, according to analysis by blockchain security firms. The conversion of stolen assets to the Solana network has prompted investigations by crypto analysts and regulatory authorities.