- Solana co-founder Raj Gokal warned of fake Solana news by scammers.
- Gokal claimed on his official X account that false news about SOL exploit was being spread.
- Solana has been one of the star performers in inflows in the altcoin space.
Solana false news about exploit
Solana co-founder and COO Raj Gokal raised concerns about the spreading of false information about the Solana blockchain. In a recent post on X, Gokal pointed out that malicious actors had targeted the network, stating, "Somebody made a fake @Cointelegraph account, a fake protocol account with real followers, and a fake influencer account, all to fake news of an exploit on @solana."
This incident isn't the first incident as Gokal referenced a previous case involving a fabricated testimonial. A false post by former Alameda Research CEO Caroline Ellison previously made rounds that claimed the company operated a Solana "on and off" switch.
Can someone confirm this is legit?
— Ben Armstrong (@BenArmstrongsX) October 12, 2023
Geesh, as the leader of the #SolanaSoldiers, this hurts my heart $SOL UNTIL I DIE https://t.co/qhVzeBJ7sN
He emphasized the reality of information warfare and urged caution within the crypto community.
A similar incident involving false news on the same news platform regarding the approval of a Bitcoin ETF occurred last week. This information triggered a notable rise in the price of Bitcoin leading to short liquidations in the market.
Solana remains a key altcoin performer
Solana has been a standout performer in the altcoins space, attracting significant inflows. According to the recent report by CoinShares, Solana received an additional $15.5 million in inflows, bringing the total year-to-date inflows to $74 million.
Solana controls assest under management (AUM) of $159 million.
Solana inflows
At the time of writing, the price of Solana (SOL) is hovering above $31 with a 24-hour trading volume of $1.7 billion based on CoinGecko data. The past day has seen minor gains, but in the last seven days, Solana has spiked by around 30%.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Bitcoin Price Forecast: Analysts anticipate increased volatility as the US presidential election looms
Bitcoin price teased its all-time high of $73,777 last week but declined to trade below $69,000 on Monday. Analysts suggest that market volatility is expected to rise as the US presidential election approaches.
Litecoin poised for double-digit decline after breaking ascending trendline
Litecoin breaks and closes below an ascending trendline, signaling a change in market structure. On-chain metrics paint a bearish picture, as LTC’s dormant wallets are active, and the NPL indicator shows a negative spike.
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC, ETH and XRP decline ahead of US elections
Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) all faced resistance at crucial levels ahead of the US Elections, leading to a price decline. As of Monday, they neared key support levels, and a firm close below these marks could signal further declines.
21Shares files S-1 for XRP ETF amid ongoing tension between Ripple and SEC
21Shares filed an S-1 registration with the Securities and Exchange Commission (SEC) on Friday for an XRP exchange-traded fund (ETF). While the chance of approval is slim with the current SEC administration, the landscape could change after the upcoming elections.
Bitcoin: New all-time high at $78,900 looks feasible
Bitcoin price declines over 2% this week, but the bounce from a key technical level on the weekly chart signals chances of hitting a new all-time high in the short term. US spot Bitcoin ETFs posted $596 million in inflows until Thursday despite the increased profit-taking activity.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.