One of the oldest Solana “whale” wallets - linked to the Genesis distribution during the network’s early days - has reportedly fallen victim to a hack. A total of 180,900 SOL worth approximately $14.2 million, or around Rp230 billion, was looted from the wallet, with the stolen funds subsequently bridged to the Ethereum network.
The findings were uncovered by renowned on-chain investigator ZachXBT and reported via Cointelegraph.
Traces Pointing to a Wallet Compromise
The term “linked to the Genesis distribution” indicates that this wallet was among the earliest recipients of SOL allocations, dating back to when the Solana network first launched. Such dormant wallets often hold substantial fortunes accumulated over the years - and precisely because they remain untouched for so long, they become prime targets once private keys are leaked or compromised by attackers.
The pattern of moving stolen loot to Ethereum via cross-chain bridges is also nothing new. This tactic is commonly used by bad actors to complicate tracking and split funds before eventually cashing out or mixing them on other networks.
Why Incidents Like This Keep Happening
Whale hacks are not merely stories of an unlucky wealthy victim. When hundreds of thousands of coins change hands in an instant, sudden selling pressure can shake market prices, while illicit flows entering bridges add to the burden on exchanges and protocols working to screen tainted funds. For ordinary holders, this incident serves as a stark reminder that a large balance is no match for weak key security - and that even dormant wallets must be guarded as if they were active every day.
Reported from @Cointelegraph on X.
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
