region|US

An unknown actor has drained over 8,000 internet-connected wallets in an ongoing attack on the Solana blockchain ecosystem. According to Blockchain auditor OtterSec, the attacks were still ongoing when it posted an update in the evening of August 2nd and that they had affected multiple wallets, including Phantom, Slope, Solflare and TrustWallet, across a wide variety of platforms. 

As TechCrunch notes, the bad actor seems to have stolen both Solana tokens and USDC stablecoins, with the estimated losses so far amounting to around $8 million. OtterSec is now encouraging users to move all their assets to a hardware wallet, and the Solana Status Twitter account echoed that advice, adding that there’s no evidence “cold” wallets have been impacted.

The Solana Status account has also revealed that an exploit allowed a malicious actor to drain funds from the compromised wallets and that it seems to have affected both their mobile versions and extensions. Engineers from multiple ecosystems have already banded together to work with security researchers to identify the root cause of the exploit, which is yet to be discovered. 

People in the crypto industry have several theories, though, with some believing that the bad actors got access to private keys through a supply chain attack, because the attacker was able to sign, or initiate and approve, transactions on behalf of the victims. Others warning that the exploit has caused the widespread compromise of private keys and that revoking wallet approvals won’t help at all. 

In the future, you may come across a lot more two-wheeled Porsches on the streets. The luxury automaker has launched two new joint ventures with Dutch company Ponooc Investment B.V., and they’re both all about electric bikes. Porsche eBike Performance GmbH is based in Ottobrunn near Munich and will develop components, including motors and batteries. Anything it creates will then be used by P2 eBike GmbH, the second joint venture based in Stuttgart, to manufacture Porsche-branded e-bikes for consumers that the company plyans to launch starting in the middle of the decade. 

Porsche is far from a newcomer in the e-bike space. In 2021, it debuted two electric bikes inspired by the Taycan and were made to complement the Cross Turismo, which has a rear carrier. Those bikes, however, along with their motors and gear shifting systems, were manufactured by Japanese bicycle industry giant Shimano. With one company developing parts and another working on the consumer bikes themselves, the upcoming products the joint ventures will release will be all (or at least mostly) Porsche.

The components business will use the e-bike drive systems develop by Fazua, a company Porsche recently acquired, as noted by Electrek. However, it will also develop e-bike systems under the Porsche brand name — it will even sell the technology it designs to other brands. As with anything Porsche, the bikes under the new ventures will most likely not come cheap: Its Taycan-inspired bikes, for instance, set buyers back at least $8,500 at launch, with the sports model selling for prices that start at $10,700.