$36 Million Gone: Solana Hack Strikes South Korea’s Top Exchange

Solana (SOL) has demonstrated resilience by maintaining its position above the critical $140 support level, despite a recent $37 million hack on South Korea's Upbit exchange, which has raised concerns in the cryptocurrency market. The exchange has suspended deposits and withdrawals following the breach, which affected its Solana wallet.

Bitcoin and Ether have seen a rise in their values as Solana experiences significant outflows from its exchange-traded funds (ETFs), with a notable $34 million exit from the 21Shares Solana ETF. This shift indicates a changing landscape in investor preferences within the cryptocurrency market.

Jupiter has launched a new Refinance feature aimed at facilitating seamless token migration for borrowing and lending positions on the Solana blockchain, offering users better rates and secure transfers. This initiative is part of Jupiter's ongoing efforts to enhance its services within the decentralized finance (DeFi) ecosystem.

The BONK memecoin has made its debut as an exchange-traded product (ETP) on Switzerland's SIX exchange, marking a significant entry into one of Europe's largest stock markets. This launch occurs amidst a broader decline in memecoin valuations in 2025, highlighting the volatility of the cryptocurrency market.

Solana's price is currently facing challenges, with analysts indicating that it is unlikely to break the $150 mark due to weakening network activity, a declining total value locked (TVL), and negative flows from exchange-traded funds (ETFs). A classic chart pattern suggests a potential drop to $100.

A malicious Chrome extension named Crypto Copilot has been identified, allowing users to trade Solana directly from X while secretly skimming a portion of each transaction. This raises significant concerns regarding user security and trust in cryptocurrency trading tools.

The 21Shares Solana ETF (TSOL) has experienced a significant outflow of over $34 million in a single day, marking the end of a previously successful run for Solana ETFs. This reversal comes amid a broader trend of shifting investor sentiment in the cryptocurrency market.

South Korea's financial sector has been targeted by a coordinated supply chain attack involving Qilin ransomware, resulting in the theft of 2 TB of sensitive banking data attributed to a collaboration between Russia and North Korea.